Amgen Inc

AMGN: XNAS (USA)

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Amgen Earnings: Maintaining Our $317 Fair Value Following In-Line Quarter; Awaiting MariTide Data

Karen Andersen

Oct 31, 2024

Amgen’s third-quarter product sales grew 24% (or 8% excluding the October 2023 Horizon Therapeutics acquisition), with strong double-digit growth for key products including cholesterol-lowering drug Repatha (40% growth), leukemia drug Blincyto (49%), osteoporosis drug Evenity (30%), and asthma drug Tezspire (67%). Management raised its top-line guidance for 2024 by $100 million at the midpoint to $33 billion-$33.8 billion and narrowed its non-GAAP earnings per share guidance to $19.20-$20.00.

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Amgen Inc

Amgen Earnings: Maintaining Our $317 Fair Value Following In-Line Quarter; Awaiting MariTide Data

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