AMGN · NASDAQ · STOCK
Amgen (AMGN) Stock Analysis
$414.79
52W $288.00 – $447.03
56/100
$223.91B
25.6
0.41
⚠
Buy rating, but near-term risk/reward is unfavorable
The long-term recommendation is based on the composite investment score. The near-term risk/reward is based on nearby support and resistance levels. These can differ when a strong company trades close to resistance with support further below.
Is AMGN Bullish or Bearish?
Bullish.
Innellis AI committee rates Amgen (AMGN) Buy with a composite score of 56/100
, based on 6 analysts with 50% agreement.
Last updated October 10, 2026.
What Would Change This View
- Upgrade to Strong Buy
- Requires a committee score of 75.0 — +18.54 from today. Applies on the first day at or above the line; upgrades are never dampened.
- Downgrade to Watch
- Requires the score to fall below 55.0 — -1.46 from today. The band boundary is 60.0, but a one-step downgrade must clear a further margin first. A score oscillating around the line should not change the rating every night.
Executive Summary
The committee is genuinely divided. Growth Analyst sees a compelling case — eps growing 31.7% yoy. Risk Analyst remains cautious — high leverage (debt-to-equity 6.31) amplifies downside in a stress scenario. This disagreement is itself the signal — the setup is not clean in either direction.
Bull & Bear Case
Bull Case
- ROE of 89.3% shows genuine earnings power backing the valuation — Value
- Dividend yield of 3.2% pays you to wait — Value
- EPS growing 31.7% YoY — Growth
- 5 consecutive earnings beats -- consistent execution — Growth
- Quarter-over-quarter growth rate is ACCELERATING, not just positive — Growth
- Price structure making higher highs and higher lows — Technical
Bear Case
- P/E of 25.2 is moderate-to-rich — Value
- Price-to-book of 20.4x prices in significant intangible value — Value
- Debt-to-equity of 6.31 adds balance-sheet risk to the value case — Value
- High leverage (debt-to-equity 6.31) amplifies downside in a stress scenario — Risk
Both cases are generated from quantitative data signals, not qualitative or
forward-looking judgement. They summarise what the numbers say today.
Price History (6M)
AI Investment Committee
Committee Consensus
As of October 10, 2026
Overall Committee Score
56/100
Agreement
50%
Analysts
6
Conviction
Contested
Sector Rank
Top 55%
of 192 Healthcare peers
Value Analyst
neutral
45
/ 100 · High confidence
Fair value -- neither a bargain nor obviously overpriced
+ ROE of 89.3% shows genuine earnings power backing the valuation
− P/E of 25.2 is moderate-to-rich
Growth Analyst
bullish
72
/ 100 · High confidence
Strong, accelerating growth with consistent execution
+ EPS growing 31.7% YoY
Technical Analyst
bullish
69
/ 100 · High confidence
Price action is constructive -- trend and momentum agree
+ Price structure making higher highs and higher lows
Risk Analyst
bearish
30
/ 100 · Low confidence
Elevated risk from leverage, volatility, event exposure, or portfolio concentration -- size accordingly
− High leverage (debt-to-equity 6.31) amplifies downside in a stress scenario
Macro Analyst
bullish
65
/ 100 · Low confidence
Macro backdrop is supportive of risk assets generally, and this name's beta works in its favor
News Analyst
neutral
58
/ 100 · Low confidence
News flow is mixed or quiet -- no strong signal either way right now
Portfolio Manager
bearish
30
/ 100 · Moderate confidence
The existing book itself argues for caution here, independent of how good this specific stock looks
− Sector concentration is already high (HHI 2796.97)
Investment Thesis Evolution
Committee score moved marginally from 56.9 to 56.5.
- New bearish signals: 1 appeared.
- Bearish pressure eased: 2 signal(s) disappeared.
Analyst-level changes:
- Value Analyst: +1 bearish signal(s).
Comparing 2026-10-09 to 2026-10-10 (1 day apart).
Technical Analysis
RSI (14)
58.5
Neutral
MACD Histogram
0.858
Bullish Momentum
Trend Direction
Uptrend
Weekly: Uptrend
Market Structure
Hh Hl
Support
$320.66
Resistance
$447.03
Bollinger %B
0.71
Inside Bands
Price vs Moving Averages
EMA 9
$409.28
Above
EMA 21
$407.86
Above
EMA 50
$403.00
Above
EMA 200
$369.15
Above
Fundamental Analysis
Valuation
53
Growth
86
Profitability
96
Financial Health
24
Cash Flow
70
Valuation
P/E Ratio
25.6×
P/B Ratio
19.17×
PEG Ratio
0.81
Dividend Yield
2.40%
52W High
$447.03
52W Low
$288.00
Quality & Growth
ROE
8906.2%
ROA
851.2%
Gross Margin
7265.0%
Operating Margin
3317.5%
Revenue Growth YoY
—
Debt / Equity
4.90
AI Fundamental Assessment
P/E ratio of 25.6 (moderate relative to a 15-40x range); Price-to-book of 19.2x; PEG ratio of 0.8 (under 1.0 suggests growth is undervalued relative to price); Return on equity of 89.1%; Return on assets of 8.5%; Net margin of 22.9%; Gross margin of 72.7%; Current ratio of 1.37 (tight short-term liquidity); Debt-to-equity of 4.90; Free cash flow per share is positive (18.84); Most recent quarter beat estimates by 9.8%; 5 consecutive earnings beats; EPS growth accelerating (-2.6% -> +22.1% QoQ); Average YoY EPS growth of 4.5%; Analyst estimates rising over recent quarters
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