William Blair analyst Matt Phipps has maintained their bullish stance on AMGN stock, giving a Buy rating today.
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Matt Phipps has given his Buy rating due to a combination of factors, starting with Amgen’s solid first-quarter 2026 performance and modestly raised full-year guidance for both revenue and earnings. He notes that strength in key franchises like Repatha, Tepezza, and Uplizna offset headwinds from seasonality, pricing pressure, and biosimilar competition, reinforcing confidence in the company’s core commercial engine.
Beyond the quarter, Phipps highlights the strategic importance of MariTide, where emerging data suggest that a three-step dose-escalation regimen may further improve gastrointestinal tolerability, and a new switch study from existing weekly injectables could support future market adoption. Although the most pivotal MariTide readouts are not expected until 2027, he believes that ongoing growth from products such as Repatha, Tezspire, Uplizna, Evenity, and Imdelltra can drive upside to consensus expectations in the interim, justifying his positive stance on the shares.
In another report released today, Piper Sandler also reiterated a Buy rating on the stock with a $432.00 price target.