Assessing Amgen (AMGN) Valuation After Recent Share Price Momentum And Pipeline Expectations

Simply Wall St.02-01 17:25

AdvertisementWhy Amgen (AMGN) Is Getting Attention Now Amgen (AMGN) is back on many watchlists after a period where its share price, recent returns and fundamentals, including revenue of US$35.97b and...

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Valuation After Recent Share Price Momentum And Pipeline Expectations\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-02-01 17:25 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://simplywall.st/stocks/us/pharmaceuticals-biotech/nasdaq-amgn/amgen/news/assessing-amgen-amgn-valuation-after-recent-share-price-mome><strong>Simply Wall St.</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>AdvertisementWhy Amgen (AMGN) Is Getting Attention Now Amgen (AMGN) is back on many watchlists after a period where its share price, recent returns and fundamentals, including revenue of US$35.97b and...</p>\n\n<a href=\"https://simplywall.st/stocks/us/pharmaceuticals-biotech/nasdaq-amgn/amgen/news/assessing-amgen-amgn-valuation-after-recent-share-price-mome\">Source 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See our latest analysis for Amgen. At a share price of US$341.88, Amgen’s recent 90 day share price return of 15.38% and 1 year total shareholder return of 23.68% indicate that momentum has been building over both shorter and longer horizons. If Amgen’s move has caught your eye and you want to see what else is working in healthcare, now could be a good time to scan healthcare stocks. With Amgen trading at US$341.88, sitting close to analyst targets yet showing an indicated 46.63% intrinsic discount, the real question is whether you are looking at hidden value or a market that is already pricing in future growth. Most Popular Narrative: 4.3% Overvalued Compared with Amgen's last close at $341.88, the most followed narrative anchors fair value at $327.74, using a 7.54% discount rate to weigh future cash flows.  Advancements in personalized and targeted therapies, reflected in the robust late-stage pipeline (e.g., MariTide for obesity/type 2 diabetes, Repatha and olpasiran for cardiovascular, multiple bispecific T-cell engagers for oncology), position Amgen to launch high-margin, first-in-class products that drive both top-line growth and margin expansion in the coming years.  Read the complete narrative. Curious how a steady revenue outlook, rising margin expectations and a richer future P/E are blended into one fair value line? The narrative leans on detailed assumptions for earnings, profitability and the price investors might pay for those profits several years from now, all pulled together with a single discount rate. Result: Fair Value of $327.74 (OVERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, there is still real execution risk, with patent expiries and pricing pressure potentially challenging the revenue, margin and future P/E assumptions behind that fair value line. Find out about the key risks to this Amgen narrative. Another Take: Multiples Paint A Different Picture That DCF view saying Amgen trades at a 46.6% discount to fair value sits beside a very different read from simple earnings multiples. On a P/E of 26.3x, Amgen looks more expensive than the US Biotechs industry at 20.3x, yet cheaper than peers at 59.7x and below its own 29.3x fair ratio. This raises the question of whether this represents a valuation cushion or a sign that expectations already run hot. See what the numbers say about this price — find out in our valuation breakdown. NasdaqGS:AMGN P/E Ratio as at Feb 2026 Build Your Own Amgen Narrative If your view on Amgen differs or you prefer to assess the numbers yourself, you can build a tailored story in just a few minutes with Do it your way. A great starting point for your Amgen research is our analysis highlighting 4 key rewards and 2 important warning signs that could impact your investment decision. Ready For More Investment Ideas? If Amgen has earned a spot on your radar, do not stop there. Widening your search now can surface opportunities you will wish you had seen earlier.  Spot potential bargains quickly by checking out these 875 undervalued stocks based on cash flows that line up with your preferred mix of quality, price, and fundamentals. Explore technology-related opportunities by scanning these 24 AI penny stocks that are tied to real business models, not just headlines. Put income to work by reviewing these 12 dividend stocks with yields > 3% that may help balance growth ideas with regular cash returns.   This article by Simply Wall St is general in nature. We provide commentary based on historical data\n    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\n    financial situation. We aim to bring you long-term focused analysis driven by fundamental data.\n    Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.\n    Simply Wall St has no position in any stocks mentioned.New: Manage All Your Stock Portfolios in One PlaceWe've created the ultimate portfolio companion for stock investors, and it's free.• Connect an unlimited number of Portfolios and see your total in one currency• Be alerted to new Warning Signs or Risks via email or mobile• Track the Fair Value of your stocksTry a Demo Portfolio for FreeHave feedback on this article? Concerned about the content? Get in touch with us directly. 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