AMGN
ACCE-researchedOverview
ACCE thesis
Amgen develops and manufactures biotechnology medicines focusing on oncology, inflammation, and cardiovascular disease, with blockbuster drugs like Enbrel, Humira biosimilars, and newer oncology treatments driving $26 billion in annual revenue. The company's extensive biosimilar portfolio positions it to capture market share as expensive biologics lose patent protection, while its manufacturing scale creates cost advantages smaller biotech firms cannot match. The December 2023 launch of Lumakras for KRAS-mutated lung cancer represents the first targeted therapy for this previously "undruggable" mutation, addressing a $2 billion market opportunity. Trading at 14x forward earnings despite generating over $8 billion in annual free cash flow, the stock reflects pessimism around Enbrel's biosimilar competition that appears overdone given the company's diversified revenue base. Management's aggressive $5 billion share repurchase program initiated in Q4 2023 signals confidence in the underlying business trajectory.
- highExtreme leverage riskDebt/Equity of 6.31 is dangerously elevated, largely from Horizon Therapeutics acquisition, constraining financial flexibility and amplifying downside risk.
- moderateSharp QoQ revenue declineQuarter-over-quarter revenue fell 12.6%, signaling potential near-term demand softness or timing issues despite 5.8% YoY growth.
- moderateEarnings growth decelerationEarnings YoY growth of only 4.4% lags revenue growth of 5.8%, suggesting margin pressure or rising interest costs on heavy debt load.
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Price
Valuation
INVESTORSix independent models converge on one confidence-weighted fair value, with full methodology and editable assumptions.
- +All six models: DCF, P/E and EV/EBITDA comps, Graham, dividend discount, residual income
- +Scenario bands, sensitivity tornado, and the 5-year historical valuation range
- +Editable DCF workbench with saved scenarios
Quality
INVESTORThe full quality picture: conviction breakdown, earnings quality, score history, and backtested returns.
- +Conviction score breakdown and earnings-quality grade
- +Growth / value / quality / momentum component scores
- +90-day score history and score-threshold backtests
Analysts
Wall Street consensus
The full analyst picture: the price-target distribution against the current price, forward consensus estimates, and how ACCE's own models compare.
- +Price-target low / average / high vs the current price, with implied upside
- +Forward revenue and EPS consensus by fiscal year
- +ACCE fair-value models lined up against the Street
Smart Money
PROFollow the institutions: 13F position changes, insider trades, and active 13D activist filings.
- +Quarter-over-quarter institutional position changes
- +Recent open-market insider transactions
- +Active 13D activist filings and top holders
Compare
Where it sits vs peers
Algorithmic peers (6)
| Ticker | Company | Mcap | P/E | ROE | D/E | Yield | Quality | |
|---|---|---|---|---|---|---|---|---|
| NVO | Novo Nordisk A/S Common Stock | $191.0B | 10.7 | 59.8% | 0.67 | 4.2% | - | Compare |
| NOVO-B.CO | Novo Nordisk B | $190.7B | 10.7 | 59.8% | 0.63 | 4.2% | - | Compare |
| GILD | Gilead Sciences Inc. Common Stock | $186.1B | - | -20.7% | 1.10 | 2.1% | - | Compare |
| AZN | AstraZeneca PLC Ordinary Shares | $257.6B | 24.9 | 22.0% | 0.57 | 1.9% | - | Compare |
| AZN.L | AstraZeneca | $258.7B | 25.0 | 22.0% | 0.57 | 2.6% | - | Compare |
| NOVN.SW | Novartis | $265.0B | 21.0 | 30.3% | 0.73 | 4.0% | - | Compare |
Sector report card
Where AMGN ranks against its sector peers on each metric.
News and Record
Press releases mentioning this company
- PR Newswire•Sep 16, 2026Sjögren's Syndrome Market to Witness Sustained Growth During the Forecast Period (2026-2036) Due to the Development of Targeted Immunotherapies, FcRn Inhibitors, TYK2 Inhibitors, and Cell Therapies | DelveInsight
- PR Newswire•Sep 15, 2026Leading Biotech Selects Veeva Vault CRM Globally
- PR Newswire•Sep 14, 2026FDA APPROVES REDUCED MONITORING TIME FOR FIRST TWO DOSES OF IMDELLTRA®
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