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Amgen upgraded to cautious Buy on strong pipeline and growth potential despite recent stock weakness.

Analyst Insights
05 Jun 2026
Seeking Alpha
View Source
Bullish
pluang ai news

Amgen Inc. has been upgraded to a cautious Buy due to its improved fundamentals, diversified drug pipeline, and attractive risk/reward profile despite recent underperformance against the S&P 500. Key growth drivers include drugs like Imdelltra, Uplizna, Tepezza, Repatha, and the promising Maritide, which help offset declines from older drugs like Prolia. The company's strong R&D pipeline, margin expansion, and capital investments support long-term growth, though investors should monitor its high debt and capital expenditure levels. Amgen's shares currently trade near the lower end of a long-term range, with potential upside as defensive healthcare stocks gain favor amid changing market conditions.

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