Amgen (AMGN – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst on May 2. Analyst David Risinger from Leerink Partners maintained a Hold rating on the stock and has a $305.00 price target.
David Risinger has given his Hold rating due to a combination of factors related to Amgen’s recent financial performance and future outlook. The company’s first-quarter earnings per share exceeded expectations by 15%, primarily due to lower-than-anticipated costs, and revenues were 2% higher than consensus estimates. Despite this positive performance, Amgen maintained its 2025 guidance without significant upward revisions, indicating a cautious outlook.
Amgen’s revenue growth was driven by strong performances from key products like Repatha, Evenity, and Prolia, which saw significant year-over-year increases. However, the company anticipates challenges ahead, including potential sales erosion from biosimilar competition in the latter half of 2025. Additionally, while Uplizna showed promising growth and potential for future expansion, the overall long-term earnings growth estimate remains modest at 4%. These mixed signals contribute to the Hold rating, reflecting a balanced view of the company’s strengths and potential risks.
Risinger covers the Healthcare sector, focusing on stocks such as Eli Lilly & Co, AnaptysBio, and Sanofi. According to TipRanks, Risinger has an average return of 9.1% and a 55.49% success rate on recommended stocks.