Why Amgen (AMGN) Is Up 7.3% After Beating Q3 Expectations and Repatha Trial Success

• Amgen recently reported strong third-quarter 2025 results, surpassing analyst expectations for revenue and earnings, and presented positive new Phase 3 clinical trial data for Repatha at the American Heart Association Scientific Sessions.
• The detailed trial results showed that Repatha achieved significant reductions in major cardiovascular events in high-risk patients without prior heart attack or stroke, reinforcing Amgen’s position in cardiovascular therapeutics.
• We’ll explore how Amgen’s impressive earnings growth and Repatha trial success could impact the overall investment narrative.

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Amgen Investment Narrative Recap

To be an Amgen shareholder, you need conviction in the company’s capacity to innovate in chronic disease treatment and leverage its global scale, especially as the biopharma sector faces pricing pressure and biosimilar competition. The recent Repatha Phase 3 results reinforce a key catalyst by highlighting Amgen’s leadership in cardiovascular therapeutics, but these developments do not materially change the main short-term risk: potential margin erosion if drug pricing pressures accelerate across Amgen's core portfolio.

Among recent developments, Amgen’s Q3 2025 earnings stood out, with revenue rising 12% year-on-year, driven in part by growth in products like Repatha. This earnings momentum supports the investment case that innovative therapies and a broad portfolio can help offset risks around biosimilar competition, at least for the foreseeable future.

Yet, in contrast, investors should be aware that a sudden regulatory change around drug pricing could rapidly affect revenue and profitability...

Read the full narrative on Amgen (it's free!)

Amgen's outlook anticipates $37.4 billion in revenue and $8.2 billion in earnings by 2028. This is based on a projected 2.3% annual revenue growth rate and a $1.6 billion increase in earnings from $6.6 billion currently.

Uncover how Amgen's forecasts yield a $311.88 fair value, a 3% downside to its current price.

Exploring Other Perspectives

The most optimistic analysts expect Amgen’s annual revenue to reach around US$42.8 billion and earnings to climb to US$13.3 billion by 2028, fueled by product launches and biosimilars expansion. These projections reflect far more optimistic assumptions than the baseline, suggesting that your outlook for Amgen may shift meaningfully after considering this recent Repatha trial news and its future impact on key markets.

Explore 6 other fair value estimates on Amgen - why the stock might be worth as much as 88% more than the current price!

Build Your Own Amgen Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Amgen research is our analysis highlighting 4 key rewards and 1 important warning sign that could impact your investment decision.
• Our free Amgen research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Amgen's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary 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. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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