Amgen Earnings Forecast Boosted by Erste Group Bank
Analysts at Erste Group Bank have increased their earnings per share (EPS) forecast for Amgen, a global biotechnology company. In a report issued on August 27th, the analysts raised their FY2026 EPS estimate to $23.05 from their previous estimate of $22.41.
This is higher than the current consensus estimate of $22.97 per share and reflects the company's strong financial performance in its latest reported quarter. Amgen exceeded analyst expectations for both earnings and revenue, with revenue increasing year over year by 9.5%.
The updated forecast comes as Amgen continues to expand its pipeline of innovative treatments, including Tezspire, which has shown promising results in clinical trials for eosinophilic esophagitis (EoE). The company also recently reported positive data from a pediatric psoriasis study involving apremilast.
Amgen's shares opened at $432.42 on Monday and have a market capitalization of over $233 billion. The stock has a P/E ratio of 26.88 and a beta of 0.41, indicating relatively low volatility compared to the broader market.