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Amgen ((AMGN) is having a moment. The biotech bellwether is trading near fresh 52-week highs, up roughly 8% in the latest session, and the tape is sending a clear message: institutions are leaning in. When a mega-cap healthcare name breaks out while the broader market debates growth versus defensives, investors should pay attention. The numbers tell a compelling story.At yesterday afternoon’s earnings report, Amgen reported solid growth in the fourth quarter and full year 2025, with total revenues rising ro ...

Key Takeaways AMGN beat Q4 EPS and sales estimates as total revenues rose 9% on strong global demand across key brands.Amgen saw robust growth from Repatha, Evenity and Tezspire, offsetting pricing pressure and higher costs.AMGN is advancing MariTide with six phase III obesity studies, targeting monthly dosing via autoinjector.Amgen (AMGN) reported fourth-quarter 2025 adjusted earnings of $5.29 per share, which beat the Zacks Consensus Estimate of $4.76 per share. Earnings were relatively flat year over yea ...

Core Insights - Pfizer reported fourth-quarter 2025 adjusted earnings per share of 66 cents, exceeding the Zacks Consensus Estimate of 57 cents, with a year-over-year earnings increase of 5% [1] - Total revenues for the quarter were $17.6 billion, a decline of 1% year-over-year on a reported basis and 3% on an operational basis, primarily due to decreased revenues from COVID-19 products [2] Revenue Breakdown - International revenues decreased by 4% on an operational basis to $8.44 billion, while U.S. revenues fell by 1% to $9.1 billion [2] - The Primary Care segment saw a 13% operational decline in sales to $7.94 billion, while Specialty Care recorded a 6% increase to $4.77 billion, and Oncology sales rose by 8% to $4.44 billion [3] Product Performance - Eliquis sales in Primary Care rose by 8% to $2.02 billion, although alliance revenues fell short of the Zacks Consensus Estimate of $2.14 billion [4] - Global revenues from the Prevnar family increased by 8% to $1.71 billion, surpassing the Zacks Consensus Estimate of $1.65 billion [5] - Comirnaty sales were $2.27 billion, down 35% year-over-year, but still beat the Zacks Consensus Estimate of $2.0 billion [6] - Paxlovid revenues dropped by 70% year-over-year to $218 million, missing the Zacks Consensus Estimate of $289 million [7] Full-Year Results - For the full year 2025, Pfizer's sales declined by 2% to $62.6 billion, exceeding the Zacks Consensus Estimate of $61.94 billion [14] - Adjusted earnings for 2025 were $3.22 per share, a 4% increase year-over-year, beating the Zacks Consensus Estimate of $3.13 [14] 2026 Guidance - Pfizer expects total revenues for 2026 to be between $59.5 billion and $62.5 billion, reflecting a decline from 2025 due to lower COVID product revenues and an impending patent cliff [16] - COVID sales are projected to be around $5 billion in 2026, down from approximately $6.7 billion in 2025 [17] - Adjusted earnings per share for 2026 are expected to be in the range of $2.80-$3.00, a decrease from 2025's EPS of $3.22 [17] Research and Development - Pfizer plans to initiate 20 pivotal studies in 2026, including 10 for ultra-long-acting obesity candidates from the Metsera acquisition [26] - Positive top-line data from a phase IIb study on PF-08653944 showed significant weight reduction, positioning Pfizer competitively against other weight loss therapies [20][21]

Company Overview - Amgen is one of the largest biotech companies globally, focusing on oncology/hematology, cardiovascular disease, inflammation, bone health, and rare diseases markets [11] - The company has developed significant drugs such as Epogen and Neupogen, and launched next-generation products like Aranesp and Neulasta [11] - Amgen's acquisition of Immunex Corporation provided access to the blockbuster drug Enbrel, although older drugs are facing declining sales due to competition [11] Financial Performance - Amgen has a Zacks Rank of 3 (Hold) and a VGM Score of B, indicating a solid position in the market [12] - The company has a Value Style Score of B, supported by a forward P/E ratio of 15.68, which is attractive for value investors [12] - For fiscal 2025, three analysts have revised their earnings estimates upwards, with the Zacks Consensus Estimate increasing to $21.28 per share [12] - Amgen has an average earnings surprise of +12.7%, suggesting a positive trend in earnings performance [12] Investment Considerations - With a strong Zacks Rank and favorable Value and VGM Style Scores, Amgen is recommended for investors' consideration [13]

Core Viewpoint - Amgen (AMGN) is expected to report quarterly earnings of $4.74 per share, a decline of 10.7% year-over-year, with revenues projected at $9.46 billion, reflecting a 4.2% increase compared to the previous year [1]. Earnings Estimates - The consensus EPS estimate has been revised upward by 0.1% over the past 30 days, indicating analysts have adjusted their projections positively [2]. - Revisions to earnings estimates are crucial indicators for predicting investor actions regarding the stock, with empirical research showing a strong correlation between these revisions and short-term stock price performance [3]. Revenue and Product Sales Projections - Analysts predict 'Revenue- Other revenues' will reach $402.12 million, an increase of 8.7% from the prior-year quarter [5]. - 'Revenue- Product sales' is expected to be $9.04 billion, reflecting a 3.7% increase year-over-year [5]. - 'Product Sales- Vectibix- Total' is projected at $279.69 million, indicating a 13.7% increase from the previous year [5]. Specific Product Sales Estimates - 'Product Sales- Enbrel- Total' is estimated at $649.46 million, showing a significant decline of 36% year-over-year [6]. - 'Product Sales- Neulasta- U.S.' is projected at $56.02 million, down 22.2% from the year-ago quarter [6]. - 'Product Sales- Neulasta- ROW' is expected to reach $19.40 million, reflecting a 25.4% decline [6]. - 'Product Sales- BLINCYTO- ROW' is estimated at $152.62 million, an increase of 12.2% year-over-year [7]. - 'Product Sales- Repatha- U.S.' is projected at $442.32 million, indicating a substantial increase of 40.4% from the previous year [7]. - 'Product Sales- Repatha- ROW' is expected to be $360.19 million, reflecting a 23.8% increase [8]. - 'Product Sales- BLINCYTO- U.S.' is projected at $287.58 million, indicating a 17.4% increase [8]. - 'Product Sales- KYPROLIS- U.S.' is expected to reach $228.82 million, showing a slight decline of 3% year-over-year [8]. - 'Product Sales- KYPROLIS- ROW' is projected at $130.37 million, reflecting a 4.1% decline [9]. Stock Performance - Amgen shares have increased by 4.6% over the past month, outperforming the Zacks S&P 500 composite, which has risen by 0.8% [9].

Core Insights - Pfizer is scheduled to release its Q4 and full-year 2025 results on February 3, with a focus on oncology sales, which account for over 28% of total revenues [1] Oncology Segment - Key cancer drugs contributing to oncology sales include Ibrance, Xtandi, Lorbrena, Braftovi/Mektovi, and Seagen-acquired antibody-drug conjugates like Padcev [1] Primary Care Segment - Alliance revenues and direct sales from Eliquis are expected to rise due to increased global demand, although this is partially offset by price and generic erosion in some non-U.S. markets [3] - Sales of the Prevnar vaccine family are anticipated to decline due to lower demand in the U.S., despite higher international sales [3][4] Specialty Care Segment - Sales of Vyndaqel are projected to remain strong due to continued demand growth, while sales of Xeljanz and Enbrel may decline [7][9] - The Zacks Consensus Estimate for Vyndaqel sales is set at $1.66 billion [7] COVID-19 Products - Revenues from the COVID-19 vaccine Comirnaty are likely to decline due to narrower recommendations in the U.S., affecting the eligible patient population [5] - Sales of Paxlovid are also expected to decrease due to lower COVID-19 infection rates [5] Newer Products - Sales of the RSV vaccine Abrysvo in the U.S. are expected to be impacted by limited vaccination recommendations, although international sales may rise [6] - Strong demand for Nurtec ODT/Vydura in the U.S. is anticipated, aided by recent international launches, despite some offset from the IRA Medical Part D redesign and the 340B program [6] Stock Performance and Valuation - Pfizer's stock has declined by 2.5% over the past year, contrasting with a 24.1% rise in the industry [8] - The company is trading at a forward price/earnings ratio of 8.58, which is lower than the industry average of 17.73 and its five-year mean of 10.31 [10] Earnings Estimates - The Zacks Consensus Estimate for 2026 earnings has decreased from $3.14 to $3.00 per share over the past 60 days [11]

Core Insights - Amgen reported strong Q3 2025 earnings, with adjusted earnings of $5.64 per share, surpassing the Zacks Consensus Estimate of $5.00, and total revenues of $9.6 billion, exceeding the estimate of $8.9 billion, reflecting a 12% year-over-year increase [2][3] Financial Performance - Total product revenues increased by 12% year-over-year to $9.17 billion, driven by a 14% rise in volume, although partially offset by a 4% decline in pricing [3] - Other revenues rose by 19.3% year-over-year to $420 million, primarily due to higher royalty income [3] - Adjusted operating margin decreased by 2.5 percentage points to 47.1%, with operating expenses increasing by 18% to $5.25 billion [22] Key Product Performance - Prolia revenues reached $1.14 billion, up 9% year-over-year, significantly exceeding the Zacks Consensus Estimate of $911 million [6] - Evenity sales grew by 36% year-over-year to $541 million, surpassing the Zacks Consensus Estimate of $519 million [7] - Repatha generated revenues of $794 million, a 40% increase year-over-year, beating the Zacks Consensus Estimate of $720 million [7] - Biosimilar portfolio sales surged by 52% year-over-year to $775 million [5] Guidance and Outlook - Amgen raised its 2025 revenue and earnings outlook, expecting total revenues between $35.8 billion and $36.6 billion, and adjusted earnings per share in the range of $20.60 to $21.40 [24] - Adjusted operating margin is anticipated to be around 45%, with R&D expenses expected to grow at a mid-20s percentage rate year-over-year [25] Pipeline Developments - Enrollment has been completed in two phase III studies for MariTide, with approximately 5,000 adults enrolled [27] - Ongoing enrollment in two other phase III studies for atherosclerotic cardiovascular disease and heart failure [28]

Core Insights - The recent Medicare negotiations are expected to save approximately 36% on the prices of 15 high-cost drugs, translating to around $8.5 billion in net reimbursement costs [1][3][10] - The new prices will take effect in 2027, with significant reductions for popular drugs like semaglutide, which will drop over 70% to about $274 per month [1][4] - The negotiations are part of the Inflation Reduction Act signed by President Biden in 2022, which allows Medicare to negotiate drug prices for the first time [2][11] Drug Price Reductions - The estimated net prices for drugs like Calquence, Ofev, and Ibrance have been reduced by over $4,000 each in the latest negotiations [2][4] - The new pricing for other drugs includes Trelegy Ellipta at $175 (down from $654) and Linzess at $136 (down from $539) [4][10] - The average negotiated prices for these drugs are still higher than those in the Group of Seven (G7) nations, with some drugs costing over $500 more than their G7 counterparts [7][11] Comparison with Previous Negotiations - The 36% savings in the current negotiations surpasses the 22% savings achieved in the previous year's negotiations for 10 different drugs [3][10] - The pricing strategy has become more efficient, with newer products potentially having greater flexibility in pricing [4][10] Industry Response - The pharmaceutical industry has expressed strong opposition to government price negotiations, arguing that such policies are detrimental [5][10] - Industry representatives claim that government pricing policies like the Inflation Reduction Act and the Most-Favored-Nation pricing are misguided [5][12] Future Implications - The Medicare negotiations are expected to influence other payers to seek similar pricing from drug manufacturers [10] - Future negotiations will include an additional 15 drugs, with discussions set to begin in February [12]

Core Insights - High-rolling investors are bullish on Amgen (NASDAQ:AMGN), indicating potential privileged information influencing their trading decisions [1] - The sentiment among major traders is predominantly bullish, with 75% of options trades being calls and only 0% bearish [2] - Significant price targets for Amgen have been identified, ranging from $290.0 to $400.0 over the last three months [3] Options Trading Activity - A total of 8 options trades were detected for Amgen, with a notable imbalance favoring calls over puts [1][2] - The total trade price for the identified options includes $422,130 for calls and $30,600 for a put [2] - Recent options trades include various strike prices, with significant trades such as a bullish call for $400.00 expiring on January 16, 2026, totaling $180.6K [8] Company Overview - Amgen is a leader in biotechnology, known for its therapeutics including Epogen, Neupogen, and Enbrel, among others [9] - The company has expanded its portfolio through acquisitions and recent drug launches, including treatments for cancer and rare diseases [9] - Amgen's current market position is supported by expert ratings, with an average target price of $314.67 from three analysts [11][12] Current Market Status - Amgen's stock is currently trading at $337.81, reflecting a 0.45% increase [14] - The stock's trading volume is reported at 163,220, with RSI readings suggesting it may be overbought [14] - Anticipated earnings release is scheduled in 82 days, which may impact future trading activity [14]