TSX runs higher on rate cut expectations
Investing.com - BMO Capital has reiterated an Outperform rating on Amgen (NASDAQ:AMGN) with a price target of $335.00, citing strong commercial performance across the company’s product portfolio. According to InvestingPro data, Amgen, with its substantial market capitalization of $153 billion, appears slightly undervalued based on its Fair Value analysis.
The research firm highlighted Amgen’s recent quarterly results, which exceeded expectations with notable outperformance from products like Otezla and the Horizon product line, though some inventory benefits contributed to the results. The company’s strong performance is reflected in its impressive 15.56% revenue growth and robust gross profit margin of 69%.
BMO Capital indicated that with the second-quarter earnings now reported in what it called an "uncontroversial fashion," investor focus will shift to upcoming catalysts in the second half of the year.
The firm specifically mentioned several important pipeline developments expected later this year, including Phase 2 data for MariTide in obesity and Type 2 diabetes, as well as results for rocatinlimab in atopic dermatitis and olpasiran in primary prevention.
These upcoming data releases are viewed by BMO Capital as significant catalysts that could further drive Amgen’s performance following what it described as a quarter that "sets Amgen shares back on track."
In other recent news, Amgen Inc . reported impressive financial results for the second quarter of 2025, surpassing analysts’ expectations. The company achieved an earnings per share (EPS) of $6.02, which was higher than the forecasted $5.26. Additionally, Amgen’s revenue reached $9.18 billion, exceeding the anticipated $8.92 billion. These results highlight the company’s strong performance in the period under review. Despite these positive financial outcomes, Amgen’s stock experienced a minor decline in after-hours trading. Investors and analysts are closely watching these developments as they assess Amgen’s financial health and future prospects. The recent earnings call provided insights into the company’s strategies and outlook moving forward.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.