Piper Sandler on Amgen (AMGN): 'Continued Strong Commercial Execution Across The Board'

Piper Sandler analyst David Amsellem reiterated an Overweight rating and $342.00 price target on Amgen (NASDAQ: AMGN).

The analyst commented: "Continued Strong Commercial Execution Across The Board; Amgen reported 3Q25 diluted non-GAAP EPS of $5.64 on revenue of $9.56B, compared to Street estimates of $5.02 and $8.97B, respectively. Management is now guiding to 2025 total revenue of $35.8B-$36.6B, up from $35.0B-$36.0B previously, and now implying annual growth of ~8% at the midpoint. Notably, the MARITIME-1 and MARITIME-2 Phase III studies evaluating MariTide for weight management in patients without and with type 2 diabetes, respectively, are now fully enrolled. All told, with broad-based commercial and pipeline execution (the failure of bemarituzumab in the FORTITUDE-102 study notwithstanding), we continue to believe AMGN is well positioned to transcend its loss of exclusivity (LOE) exposure, ultimately pointing to visibility into multiple expansion. We reiterate our Overweight rating."

For an analyst ratings summary and ratings history on Amgen click here. For more ratings news on Amgen click here.

Shares of Amgen closed at $297.23 yesterday.

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