Amgen Stock Surges Near 52-Week High on Strong Q2 Earnings and Raised Guidance

Amgen's stock price has reached near its 52-week high of $447.03, currently trading at around $441.56 as of September 3, 2026. The company reported strong Q2 2026 results, with revenue increasing by about 9% year-over-year to approximately $10.05 billion.

Adjusted earnings for the quarter reached $6.29 per share, beating a consensus estimate of $5.62 per share and indicating positive operating leverage for Amgen. The company also raised its full-year 2026 revenue guidance to around $39.4 billion, up from previous estimates.

The combination of Q2 revenue growth and higher full-year guidance has contributed to the stock's surge of about 55.4% over the past 12 months. However, Amgen is facing regulatory pressure regarding its rare-disease therapy Tavneos, which was suspended in the UK for new patients and may be fully withdrawn by March 2027.

The company's growth drivers include cardiovascular drug Repatha and other key biologics, which have helped underpin the raised revenue guidance. Amgen's market capitalization stands above $230 billion at recent prices.