Amgen Stock Falls Despite Strong Q2 Revenue Beat

Amgen's stock price fell by 1.04% on October 2, 2026, closing at $403.04 on Nasdaq after a strong second-quarter revenue result.

The biotechnology group reported Q2 revenue of $10.05 billion, beating consensus estimates of $9.43 billion and representing a 9.5% year-over-year increase.

Amgen's investor materials highlighted positive topline phase 3 results for dazodalibep in moderate-to-severe systemic Sjögren's disease and recent progress for IMDELLTRA, demonstrating the company's pipeline growth potential.

The stock remains below its 52-week high of $447.03, but Amgen set fiscal 2026 EPS guidance at $22.300-23.500, providing a reference point for market expectations.