Biotech company Amgen will report quarterly earnings this Tuesday afternoon.
Amgen will report its quarterly earnings this Tuesday afternoon. The biotech company recently reported revenues of $8.62 billion, a 5.8% year-on-year increase, which exceeded analyst expectations. While the market expects a 2.4% revenue growth for the current quarter, analysts have generally reconfirmed their estimates over the last 30 days, suggesting the business is on a steady course. Amgen has a history of which rarely misses Wall Street's revenue estimates. For comparison, peers in the therapeutics segment such as Biogen and Moderna have already reported results, with Biogen showing 3.4% growth and Moderna reporting 2.1% growth. Despite current share prices being above the average analyst price target of $357.03, the company has seen a5.7% increase in share price over the last month. Investors in the therapeutics segment have remained steady, providing a stable backdrop for the upcoming report.