Amgen Share Price Hits $442 as TEZSPIRE Data Boosts Valuation

Amgen's share price has surged to $442.84 after the company released its second quarter 2026 earnings, which beat expectations and raised full-year guidance.

The stock's momentum is largely driven by positive TEZSPIRE data, which reinforced Amgen's pipeline momentum.

However, a narrative that suggests Amgen is 23% overvalued at $442.84 versus a fair value of $359.98 has emerged, based on specific revenue growth, margin resilience, and a premium future earnings multiple.

A DCF model from Simply Wall St points to a fair value of $699.57, indicating the stock may be undervalued based on projected cash flows.