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Investing.com - Cantor Fitzgerald has reiterated its Neutral rating for Amgen (NASDAQ:AMGN) with a price target of $305.00, following the company’s commercial performance that exceeded expectations. The biotechnology giant, currently trading at $286.90, has demonstrated strong financial health according to InvestingPro analysis, with a 12.9% revenue growth in the last twelve months.
The research firm highlighted Amgen’s strong sales performance, particularly from its Evenity and Imdelltra products, which justified higher estimates in Cantor Fitzgerald’s model. This performance has contributed to Amgen’s robust dividend profile, with the company maintaining dividend payments for 15 consecutive years and offering a current yield of 3.3%.
Cantor Fitzgerald noted minimal new commentary on MariTide, with the setup into the Part 2 update expected in the second half of 2025 remaining essentially unchanged.
The firm raised questions about Amgen’s 2026 margins, especially considering that the company easily beat second-quarter R&D guidance while fiscal year 2025 guidance now implies an even more back-end loaded ramp.
MariTide data expected in the second half of 2025 remains the next major catalyst for Amgen, though Cantor Fitzgerald expressed skepticism about whether this would significantly change perspectives in the ongoing debate about the company.
In other recent news, Amgen reported robust financial results for the second quarter of 2025, surpassing analysts’ expectations with earnings per share of $6.02, compared to the forecasted $5.26. The company’s revenue reached $9.18 billion, exceeding the anticipated $8.92 billion, driven by strong performance in its rare disease portfolio. RBC Capital raised its price target on Amgen to $330 from $320, maintaining an Outperform rating following the company’s earnings beat. TD Cowen reiterated its Buy rating and set a price target of $389, highlighting the value of Amgen’s growth portfolio and higher operating margins. BMO Capital also reiterated an Outperform rating with a price target of $335, citing strong commercial execution across Amgen’s product portfolio. The firm noted the notable outperformance of products like Otezla and the Horizon product line. These recent developments reflect positive analyst sentiment and strong financial performance for Amgen.
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