Amgen Faces Pivotal Week with Earnings and Key Drug Data

Biotechnology leader Amgen is approaching what could be its most significant week of the year, with two major catalysts poised to impact its stock trajectory. The company's third-quarter 2025 earnings report, scheduled for release Tuesday after market close, will provide a crucial health check. Simultaneously, groundbreaking clinical trial data for its cardiovascular treatment Repatha, to be presented at the American Heart Association conference starting Wednesday, could substantially influence the company's future growth prospects. Market participants are watching closely to determine if these events will fuel the next upward move for Amgen shares.

Market experts are anticipating Amgen to report third-quarter 2025 revenue of approximately $8.94 billion, representing a 5% increase compared to the same period last year. However, earnings per share are projected to contract by more than 10%, falling to around $5.00. Of particular importance will be the company's updated full-year 2025 guidance, with consensus estimates pointing to revenue of $35.65 billion and earnings of $21.08 per share.

Beyond the immediate quarterly results, analysts have begun reacting to Amgen's pipeline developments. On Friday, Oppenheimer reaffirmed its "Buy" recommendation with a $380 price target, suggesting potential upside exceeding 45% from current levels. Bernstein SocGen Group similarly maintained an "Outperform" rating with a $335 target, specifically citing promising clinical trial outcomes.

Should investors sell immediately? Or is it worth buying Amgen?

Repatha's Potential Breakthrough Moment

The presentation of VESALIUS-CV Phase 3 study results at the American Heart Association conference represents what could be a transformative development for Amgen. The trial has already successfully met its primary endpoints, demonstrating that Repatha significantly reduces the risk of major cardiovascular events in high-risk patients. These compelling clinical findings could substantially strengthen Repatha's market position and unlock substantial new revenue streams.

The timing of this positive data is particularly crucial as Amgen navigates patent expirations for established products including Prolia and Xgeva. The company is counting on newer growth drivers—Imdelltra, Tavneos, and Tezspire—to offset anticipated revenue declines from these legacy products.

This decisive week will ultimately reveal whether Amgen can maintain its positive momentum or if market expectations have become overly optimistic ahead of these critical announcements.