
Amgen (AMGN) Stock Forecast & Price Target
Amgen (AMGN) Analyst Ratings
Bulls say
Amgen's strong financial outlook is bolstered by significant sales growth from its established product portfolio, including a notable 81% increase in Tavneos sales, which contributed to a total of approximately $716 million in U.S. sales for 2022. The company's recent acquisition of Horizon Therapeutics enhanced its rare-disease drug offerings with products like Tepezza, while its robust pipeline, featuring drugs such as MariTide and Imdelltra, is expected to drive long-term growth and revenue generation. Additionally, Amgen's sound cash position further supports its ability to invest in future growth opportunities, underpinned by a proven track record across various therapeutic areas including oncology, immunology, and rare diseases.
Bears say
Amgen faces significant risks that contribute to a negative outlook on its stock, primarily due to the potential for intensified competition in its core business, which may lead to market share erosion and pricing pressure on its established products. Additionally, there are concerns regarding lower-than-expected uptake rates for newly launched drugs and potential setbacks in the development and regulatory approval processes for its late-stage pipeline products and biosimilars. Management has indicated a potential mid-single-digit decline in pricing for its lead product, Repatha, which reflects broader concerns about the sustainability of revenue growth in the face of these challenges.
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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