
Amgen (AMGN) Stock Forecast & Price Target
Amgen (AMGN) Analyst Ratings
Bulls say
Amgen's stock outlook is bolstered by a significant 40% increase in sales during the third quarter of 2025 compared to the same period in 2024, reflecting strong performance across various product lines. The company has successfully launched multiple drugs, with notable growth for Repatha and Tezspire, which saw new prescriptions increase by approximately 44% and 60%, respectively, through October 2025 compared to the previous year. Additionally, Amgen raised its fiscal year 2025 revenue guidance to between $35.8 billion and $36.6 billion, indicating robust performance across its established franchises and a positive trajectory for products like Uplizna, which is projected to reach $1.4 billion in sales by 2027.
Bears say
Amgen's financial outlook appears negative due to projected total revenue growth of only approximately 1% in 2026, significantly impacted by anticipated annual sales declines of about 28% for Prolia and 39% for Xgeva. Additionally, the company's R&D spending growth is expected to be more subdued, further constraining the potential for innovative product development amidst a competitive landscape. Finally, the lack of long-term growth drivers and uncertainty surrounding emerging products like MariTide and olpasiran to offset declining revenues from maturing products contribute to concerns about Amgen's sustainability in the face of imminent loss of exclusivity for key franchises.
This aggregate rating is based on analysts' research of Amgen and is not a guaranteed prediction by Public.com or investment advice.
Amgen (AMGN) Analyst Forecast & Price Prediction
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