One of the healthier stocks in the healthcare field Wednesday was Amgen (AMGN +7.61%). The biotech and pharmaceutical company published its third-quarter results the previous day after market close, and investors were obviously pleased. In mid-session trading Wednesday they were pushing the stock's price up by more than 8%.
Good for what ails a portfolio
The quarter saw Amgen lift its total revenue by 12% year over year to $9.6 billion, fueled by double-digit increases in the sales of key drugs. Net income not according to generally accepted accounting principles (GAAP) also rose, albeit more modestly. It ticked up by 1% to just under $3.06 billion, or $5.64 per share.
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Both line items landed well above the consensus analyst estimates. Pundits tracking Amgen stock believed the company would earn only $8.98 billion on the top line and post a non-GAAP (adjusted) net profit of $5.04.
Amgen attributed the better-than-expected performance to volume growth. As for the future, it quoted CEO Robert Bradway as saying, "With disciplined investment and a pipeline of first-in-class medicines, we're focused on expanding access, advancing innovation, and sustaining long-term growth."
NASDAQ: AMGN
Key Data Points
Modest but meaningful raises
Surely with that in mind, Amgen raised its full-year 2025 guidance for both revenue and adjusted profitability.
For the former, it's now expecting to earn $35.8 billion to $36.6 billion; the previous guidance was for $35 billion to $36 billion. The new adjusted net income forecast is $20.60 to $21.40 per share, where formerly it stood at $20.20 to $21.30.
