Erste Group Bank Boosts Amgen Earnings Forecast to $24.43 per Share

Amgen Inc., a global biotechnology company, has received an updated earnings forecast from analysts at Erste Group Bank. In a report issued on Thursday, August 27th, H. Engel of Erste Group Bank increased his FY2027 EPS estimate for Amgen to $24.43 per share, up from the previous forecast of $23.50.

This revision brings Amgen's consensus estimate for its current full-year earnings to $22.97 per share. The company last reported quarterly earnings on Tuesday, August 4th, exceeding analyst expectations with a net margin of 22.95% and a return on equity of 124.14%.

The medical research company's revenue for the quarter was $10.05 billion, beating analysts' expectations by $0.62 billion or 9.5%. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS.

Several other brokerages have also issued reports on AMGN, with UBS Group boosting their price objective from $420.00 to $440.00 and giving the company a 'buy' rating. The stock has a market cap of $232.41 billion, a P/E ratio of 26.72, a P/E/G ratio of 3.12, and a beta of 0.41.