Amgen Surges 6.2% on Strong Q2 Earnings

Amgen's stock surged 6.2% in morning trading on August 5th, hitting a new 52-week high of $416.22 after the biotechnology giant reported second-quarter 2026 results that exceeded Wall Street forecasts.

The company's adjusted earnings reached $6.29 per share and total revenue climbed 10% to $10.05 billion in the quarter.

Amgen also raised its full-year 2026 revenue guidance to a range of $38.2 billion to $39.4 billion and increased its adjusted EPS target to $22.30, $23.50, up from its prior range of $21.70, $23.10.

The strong results triggered analyst price target hikes, with BMO Capital raising its target to $450 from $400, Wells Fargo raising its target to $400 from $390, and Canaccord raising its target to $384 from $366.