- Amgen’s 4Q adjusted earnings per share (EPS) were $5.31, surpassing the market estimate of $5.08 and showing an increase from last year’s $4.71.
- Total revenue reached $9.09 billion, marking an 11% year-over-year increase and beating the estimated $8.88 billion.
- Product sales were $8.72 billion, exceeding the projected $8.51 billion, up by 11% year-on-year.
- Repatha revenue increased by 45% year-over-year to $606 million, outpacing the estimate of $564 million.
- Evenity sales grew by 36% year-over-year, achieving $431 million and beating expectations of $416.3 million.
- Prolia revenue was stable at $1.17 billion, as expected, with a 5.2% increase from last year.
- Blincyto achieved a significant revenue growth of 58% year-over-year, reaching $381 million, surpassing the estimate of $331.1 million.
- Vectibix revenue decreased by 2% year-over-year, recording $246 million compared to the $279.9 million estimate.
- Lumakras sales reported $85 million, a 10% increase year-over-year but fell short of the $95.2 million estimate.
- Tezspire revenue surged by 67% with $296 million, exceeding the estimate of $292 million.
- Enbrel’s revenue remained unchanged year-over-year at $1.02 billion, surpassing the estimate of $870 million.
- Amgevita reported an 84% year-over-year growth, generating $294 million, well above the $177.3 million estimate.
- Adjusted operating expenses stood at $5.05 billion, matching the estimate and reflecting an 11% year-over-year increase.
- Expected adjusted EPS for the year is between $20 and $21.20, with a revenue forecast of $34.3 billion to $35.7 billion.
- R&D expense increased by 14% year-over-year to $1.70 billion, aligning closely with the estimate of $1.69 billion.
- Ongoing clinical studies include the Phase 2 study of MariTide for patients with or without obesity and diabetes, with results anticipated in the second half of 2025.
- The Phase 1 study of AMG 513 in obesity is currently on hold by the US FDA; discussions are underway to resume the study.
Amgen Inc on Smartkarma
Analyst coverage of Amgen Inc on Smartkarma by Baptista Research highlights the biopharmaceutical company’s strong financial performance in the third quarter of 2024. With a significant 23% increase in revenue to $8.5 billion, Amgen demonstrated robust sales across various products, including those with double-digit growth. Baptista Research assesses the potential impact of different factors on the company’s future stock price and conducts an independent valuation using a Discounted Cash Flow (DCF) methodology.
In another analysis by Baptista Research on Smartkarma, Amgen’s second-quarter 2024 results showcased a notable 20% year-over-year revenue growth to $8.4 billion. The company’s success was attributed to the expansion of products like Repatha, EVENITY, and BLINCYTO, particularly in the inflammation and oncology sectors. Baptista Research continues to evaluate key drivers influencing Amgen’s stock price and performs a detailed valuation through a DCF approach to provide insights for investors.
A look at Amgen Inc Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 4 | |
| Growth | 3 | |
| Resilience | 2 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 2.8 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Amgen Inc. has received a mixed review on its long-term outlook according to Smartkarma’s Smart Scores. With a Dividend score of 4, the company seems to be well-positioned to reward its investors with consistent dividend payouts. Additionally, a Growth score of 3 suggests that Amgen Inc. has the potential to expand its operations and increase its market presence over time. However, the company received lower scores in Value (2) and Resilience (2), indicating some concerns about the valuation and overall stability of the company. With a Momentum score of 3, it shows some positive signs of investor interest and potential for stock price growth in the future.
Amgen Inc. is an independent biotechnology company that specializes in developing and marketing medicines for severe diseases. Focusing on human therapeutics, the company leverages advancements in cellular and molecular biology to create innovative drug treatments. Despite facing some challenges in terms of valuation and resilience, the company’s strong emphasis on dividends and growth prospects suggests a cautiously optimistic long-term outlook. Investors may want to keep an eye on how Amgen Inc. navigates these factors in the evolving biotechnology landscape.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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