Amgen: Wait For A Better Entry Point (Rating Downgrade)

2026-03-05 05:11:54 ET

Back in November 2025, I initiated coverage on Amgen Inc. ( AMGN ) with a buy rating. I viewed them as a cheap biotech leader as I saw strong sales growth, an impressive pipeline, and a discounted valuation relative to sector peers. The stock has gained a very respectable ~18% since then, and that is clearly shown in the rating history chart below. Amgen reported earnings back in February, and so today I'll be analyzing their fundamentals to see if the bull thesis remains intact now....

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