Amgen Stock Holds Near Yearly High After Beating Q2 Expectations

Amgen's stock price has held steady near its yearly high after the company released second-quarter 2026 revenue figures. The biotech giant reported $10.05 billion in revenue, a 9.5 percent increase from the same period last year. Adjusted earnings per share (EPS) came in at $6.29, exceeding analyst expectations by 12 percent.

The company also raised its full-year revenue guidance to $38.2 billion-$39.4 billion and increased non-GAAP EPS guidance to $22.30-$23.50. This marks a significant shift from earlier predictions, with the market now pricing in Amgen's ability to meet or exceed these targets.

Amgen's product mix remains diverse, with six growth drivers accounting for nearly 70 percent of total sales. The company is investing heavily in research and development, with $2.6 billion allocated for capital expenditures in 2026. This expansion is aimed at increasing manufacturing capacity and driving future growth.