BUZZ-PREVIEW: Amgen slips ahead of Q1 earnings

Reuters05-03

** Amgen shares down 0.8% at $275.05 ahead of Q1 results due after the closing bell

** The biotech company is expected to post EPS of $3.87 on revenue $7.44 bln, per LSEG data, vs yr-ago results of $3.98 in EPS and $6.11 bln in revenue

** AMGN has met or beaten EPS estimates in 7 of past 8 qtrs, with most recent miss in Q4 2022; on revenue side AMGN has fallen short of expectations in two of past eight qtrs with most recent miss in Q3 2023

** The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 16 "strong buy" or "buy," 12 "hold" and 3 "sell" or "strong sell" ratings

** Median price target of $320 is unchanged from a month ago and up from $313.50 on Feb. 2

** AMGN shares down 4.2% YTD vs 1.1% climb in Dow Industrials

(Reporting by Chuck Mikolajczak)

((charles.mikolajczak@tr.com; @ChuckMik;))

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