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Sectors

Sector Update: Healthcare Stocks Softer Late Afternoon

Healthcare stocks declined late Wednesday afternoon, with the NYSE Healthcare Index down 0.4% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 0.5%.The iShares Biotechnology ETF (IBB) fell 0.9%.In corporate news, Repligen (RGEN) has agreed to acquire BioLife Solutions (BLFS) in a deal valued at about $1.5 billion, the companies said. Repligen shares climbed 2.3%, and BioLife jumped past 6%.Amgen (AMGN) has agreed to pay $74 million to settle a shareholder lawsuit alleging the company waited too long to disclose it may owe the Internal Revenue Service $10.7 billion in back taxes, penalties and interest, news outlets reported Tuesday. Amgen shares were down 0.1%.Arrowhead Pharmaceuticals (ARWR) shares surged past 20% after the company said its phase 3 clinical studies of plozasiran to treat hypertriglyceridemia met the primary endpoint of triglyceride reduction compared with placebo.GSK (GSK) shares were fractionally higher after it said Wednesday the US Food and Drug Administration has approved Jideytro, a ROS1-selective inhibitor, to treat adults with locally advanced or metastatic ROS1-positive non-small cell lung cancer who have previously received a ROS1 kinase inhibitor.

$AMGN$ARWR$BLFS$GSK$RGEN
Sectors

Sector Update: Healthcare Stocks Lower in Afternoon Trading

Healthcare stocks declined Wednesday afternoon, with the NYSE Healthcare Index down 0.4% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 0.3%.The iShares Biotechnology ETF (IBB) fell 0.7%.In corporate news, Repligen (RGEN) has agreed to acquire BioLife Solutions (BLFS) in a deal valued at about $1.5 billion, the companies said. Repligen shares climbed up 3.2%, and BioLife jumped past 7%.Amgen (AMGN) has agreed to pay $74 million to settle a shareholder lawsuit alleging the company waited too long to disclose it may owe the Internal Revenue Service $10.7 billion in back taxes, penalties and interest, news outlets reported Tuesday. Amgen shares were up 0.4%.Tiziana Life Sciences (TLSA) shares rose 1.5% after the firm said Wednesday that founder and Executive Chairman Gabriele Cerrone has purchased 42,357 shares at $0.99 apiece.

$AMGN$BLFS$RGEN$TLSA
Sectors

Sector Update: Healthcare

Healthcare stocks declined Wednesday afternoon, with the NYSE Healthcare Index down 0.2% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 0.3%.The iShares Biotechnology ETF (IBB) fell 1%.In corporate news, Amgen (AMGN) has agreed to pay $74 million to settle a shareholder lawsuit alleging the company waited too long to disclose it may owe the Internal Revenue Service $10.7 billion in back taxes, penalties and interest, news outlets reported Tuesday. Amgen shares were up 0.3%.

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Wire

Amgen Reportedly to Pay $74 Million to Settle Shareholder Suit Over Delayed IRS Tax Disclosure

Amgen (AMGN) agreed to pay $74 million to settle a shareholder lawsuit alleging the company waited too long to disclose it may owe the Internal Revenue Service $10.7 billion in back taxes, penalties and interest, news outlets reported Tuesday.The preliminary settlement, filed Monday in federal court in Manhattan, requires court approval, Reuters reported. Shareholders alleged Amgen's delayed disclosures caused its stock price to fall on dates in August 2021 and April 2022.Amgen continues to view the claims as meritless, and the settlement does not amount to an admission of liability or wrongdoing, Fierce Pharma reported, citing a company spokesperson.Amgen didn't immediately respond to a request for comment from.Price: $370.10, Change: $+3.86, Percent Change: +1.05%

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Wire

BofA Securities Adjusts Amgen Price Target to $312 From $307

Amgen (AMGN) has an average rating of overweight and mean price target of $357.04, according to analysts polled by FactSet.Price: $357.34, Change: $-6.06, Percent Change: -1.67%

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Wire

Biopharma Sector Seen Shifting to Fundamentals From Macro in H2, Morgan Stanley Says

Biopharma sector's performance in H2 is expected to be driven more by company fundamentals rather than macroeconomic factors, Morgan Stanley said in a note Tuesday.As of July 6, the NYSE Arca Pharmaceutical Index has gained 11% and the Nasdaq Biotechnology Index has added 18%, compared with a 10% gain for the S&P 500 Index, with recent stock performance driven more by changes in valuation multiples than by earnings estimate revisions, the investment bank said.Morgan Stanley said its US Equity Strategy team expects the sector to benefit from broader market leadership. Biotech remains one of the most rate-sensitive sectors, and historically, the sector has delivered nearly 20% annualized returns during falling-rate environments, according to the note.In addition, merger and acquisition activity remains healthy, with several $5 billion to $10 billion deals recently announced, including AbbVie (ABBV) purchasing Apogee (APGE), and Vertex Pharmaceuticals (VRTX) buying Crinetics Pharmaceuticals (CRNX), the investment bank said.Morgan Stanley adjusted its price targets on Biogen (BIIB) to $222 from $224, Amgen (AMGN) to $333 from $340, Gilead Sciences (GILD) to $166 from $168, AbbVie to $279 from $278, Moderna (MRNA) to $39 from $33, BioNTech (BNTX) to $119 from $126, Regeneron Pharmaceuticals (REGN) to $730 from $788, Johnson & Johnson (JNJ) to $284 from $283, and Eli Lilly (LLY) to $1,347 from $1,344.Shares of Biogen, Amgen, Gilead, AbbVie, Moderna, BioNTech, Regeneron, Johnson & Johnson, and Eli Lilly were down 2%, 0.1%, 0.8%, 0.4%, 7%, 1.9%, 1.9%, 0.4%, and 0.5% respectively, in Wednesday trading.Price: $201.67, Change: $-4.03, Percent Change: -1.96%

$ABBV$AMGN$APGE$BIIB$BNTX$CRNX$GILD$JNJ$LLY$MRNA$REGN$VRTX
Wire

Amgen's Diversified Business, Emerging Pipeline Drives Positive View, RBC Says

Amgen's (AMGN) well diversified business with no specific product driving over 10% of the top-line, no upcoming existential loss of exclusivity and emerging pipeline drive an incrementally more positive view, RBC Capital Markets said in a Thursday note, after its non-deal roadshow with the company's executives.The company highlighted key growth drivers of Repatha, Evenity, and Tezspire, as well as its rare disease, oncology, and biosimilar segments, have more than offset its losses due to Prolia biosimilar competition and Otezla generic pressure in the EU, according to the note.The six growth drivers are responsible for 70% of the company's total revenue, and they increased 24% in Q1, well above the total revenue growth of 6%, RBC analysts said.Amgen is confident of prevailing in its dispute with the Internal Revenue Service, saying that the agency's $10.7 billion figure in back taxes and penalties owed by the company is "significantly overstated," according to the note. The company had reiterated that the tax case will not limit its business development strategy, the firm noted.The company is enthusiastic regarding MariTide for both weight-induction and maintenance, but the firm said it remains somewhat cautious on the drug candidate.RBC kept its outperform rating on the company's stock with a price target of $370.Price: $335.42, Change: $-6.25, Percent Change: -1.83%

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Wire

Mizuho Securities Lifts Price Target on Amgen to $303 From $295, Keeps Outperform Rating

Amgen (AMGN) has an average rating of overweight and mean price target of $356.59, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $352.73, Change: $-2.47, Percent Change: -0.70%

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Research

Research Alert: CFRA Keeps Buy Rating On Shares Of Amgen Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lower our target price from $398 to $380, based on 16.4x our 2027 EPS estimate, above AMGN's 10-year historical forward average of 14.1x. We cut our 2026 EPS view to $22.45 from $22.56. We keep our 2027 EPS at $23.23. Based on various media reports, AMGN's rare disease drug Tavneos, used to treat ANCA-associated vasculitis in adults, an autoimmune condition where the immune system attacks small blood vessels, has been allegedly linked to 20 deaths in Japan since 2022. On April 27, the U.S. FDA proposed withdrawing the drug's approval, which was granted in 2021, due to concerns over its safety profile and initially disclosed study data. With $119M in global sales in Q1 2026, Tavneos made a very small portion (1.4%) of AMGN's quarterly revenue of $8.62B. Therefore, should AMGN decide to withdraw the drug from the market, we think the financial impact would be manageable. Tavneos entered AMGN's portfolio via the $3.7B acquisition of ChemoCentryx in 2022.

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Wire

Update: Amgen Kidney Disease Drug Under Scrutiny in Japan

(Updates with response from a Amgen spokesperson in the fourth, fifth and sixth paragraphs.)Amgen's (AMGN) Tavneos kidney disease drug is under heightened scrutiny in Japan, the treatment's local distributor Kissei Pharmaceutical said in a regulatory filing Friday."While the approval of this drug in Japan remains in effect, Kissei has begun providing information to healthcare professionals, urging them to refrain from using this drug for new patients and to carefully assess the continuation of treatment for existing patients, explaining the risks of liver dysfunction and alternative treatments to ensure patient safety," Kissei said.Japan's Asahi Shimbun reported Monday that 20 individuals who took the drug have died in Japan, a number that includes cases in which no causal relationship has been established."Kissei is responsible for and holds rights to TAVNEOS in Japan," an Amgen spokesperson said In a statement emailed to.The spokesperson added that those rights were sold nearly a decade ago, before Amgen or its predecessor company obtained rights to the medicine in other markets."Amgen has never held commercial rights in Japan and does not have operational responsibility there, including relationships with Japanese regulators, clinicians, or the local commercial market," the company said.Price: $322.81, Change: $-3.50, Percent Change: -1.07%

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Sectors

Sector Update: Health Care Stocks Softer Late Afternoon

Health care stocks declined late Monday afternoon, with the NYSE Health Care Index decreasing 0.3% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 0.4%.The iShares Biotechnology ETF (IBB) rose 1.6%.In corporate news, Sanofi (SNY) said Monday it will invest 294 million Canadian dollars ($216 million) to expand its global AI Centre of Excellence in Toronto in a bid to accelerate the development and delivery of medicines. Its shares were down past 5%.Amgen (AMGN) said Monday it will invest an additional $300 million in its biologics manufacturing facility in Puerto Rico. Amgen shares were down 2.1%.Eli Lilly (LLY) shares added 0.7% after Barclays lifted the company's price target to $1,400 from $1,350, while keeping its overweight rating.Vanda Pharmaceuticals (VNDA) shares jumped past 7% after it said Monday its motion sickness drug Nereus is now commercially available in the US.

$AMGN$LLY$SNY$VNDA
Sectors

Sector Update: Health Care Stocks Softer in Afternoon Trading

Health care stocks declined Monday afternoon, with the NYSE Health Care Index and the State Street Health Care Select Sector SPDR ETF (XLV) each decreasing 0.3%.The iShares Biotechnology ETF (IBB) rose 1.3%.In corporate news, Amgen (AMGN) said Monday it will invest an additional $300 million in its biologics manufacturing facility in Puerto Rico. Amgen shares were down 2.1%.Vanda Pharmaceuticals (VNDA) shares jumped past 5% after it said Monday its motion sickness drug Nereus is now commercially available in the US.Eli Lilly (LLY) shares added 0.2% after Barclays lifted the company's price target to $1,400 from $1,350, while keeping its overweight rating.Moderna (MRNA) is showing continued advancement across its pipeline, with progress in cancer vaccines and infectious disease programs supporting a more balanced risk-reward profile, RBC Capital Markets said in a note. RBC maintained its sector perform rating on the stock and raised its price target to $38 from $35. Moderna shares rose 4.6%.

$AMGN$LLY$MRNA$VNDA
Sectors

Sector Update: Health Care

Health care stocks declined Monday afternoon, with the NYSE Health Care Index decreasing 0.6% and the State Street Health Care Select Sector SPDR ETF (XLV) down 0.4%.The iShares Biotechnology ETF (IBB) rose 1.2%.In corporate news, Amgen (AMGN) said Monday it will invest an additional $300 million in its biologics manufacturing facility in Puerto Rico. Amgen shares were down nearly 2%.

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Wire

Amgen to Invest Additional $300 Million in Puerto Rico Manufacturing Facility

Amgen (AMGN) said Monday it will invest an additional $300 million in its biologics manufacturing facility in Puerto Rico.The Juncos site makes biologic medicines distributed to over 60 countries, the company said.Amgen said that over the past year, it announced planned investments of $650 million in Puerto Rico, $900 million in Ohio, as well as $600 million in a facility in California. Amgen said it has also invested over $1.5 billion in North Carolina.Price: $324.07, Change: $-5.75, Percent Change: -1.74%

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Research

Research Alert: CFRA Keeps Buy Rating On Shares Of Amgen Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We keep our target at $398, 17.1x our new 2027 EPS estimate, above AMGN's 10-year historical forward average of 14.1x, justified by its strengthening outlook. We raise our 2026 EPS view to $22.56 from $22.15 and our 2027 EPS to $23.23 from $22.83. AMGN delivered a strong Q1, showcasing significant positive momentum across its business. The company's six core growth drivers generated $5.6 billion in the quarter, growing 24% Y/Y. Standout performers included Repatha, with 34% Y/Y sales growth and the rare disease drug Uplinza, which saw sales surge 188% Y/Y. In terms of pipeline advancement, we continue to view the developments on Amgen's obesity treatment candidate, MariTide, as encouraging. AMGN announced new Phase III trials to explore less frequent dosing schedules (every eight or 12 weeks), a key potential differentiator, in our view. MariTide's potential for monthly or even less frequent (quarterly) dosing could be an important differentiator that would improve patient convenience and long-term adherence.

$AMGN
Sectors

Sector Update: Health Care Stocks Softer Late Afternoon

Health care stocks declined late Friday afternoon with the NYSE Health Care Index easing 0.2% and the State Street Health Care Select Sector SPDR ETF (XLV) falling 0.4%.The iShares Biotechnology ETF (IBB) shed 0.6%.In corporate news, Moderna (MRNA) affirmed its 2026 revenue growth outlook and reported better-than-expected Q1 results amid higher COVID vaccine sales. The stock still declined 1.4%.Amgen's (AMGN) Q1 EPS beat was primarily driven by lower administrative costs and taxes, Morgan Stanley said. Amgen shares fell 4.9%.Eli Lilly's (LLY) international rollout of its new oral weight-loss drug is off to a strong start, with early demand for Foundayo building quickly, BofA Securities said. Lilly shares rose 3.1%.Novo Nordisk (NVO) rebranded its oral semaglutide medication for type 2 diabetes as Ozempic. It was formerly marketed as Rybelsus. Novo shares gained 3.9%.

$AMGN$LLY$MRNA$NVO
Sectors

Sector Update: Health Care Stocks Softer Friday Afternoon

Health care stocks fell Friday afternoon with the NYSE Health Care Index easing 0.1% and the State Street Health Care Select Sector SPDR ETF (XLV) decreasing 0.3%.The iShares Biotechnology ETF (IBB) shed 0.7%.In corporate news, Moderna (MRNA) affirmed its 2026 revenue growth outlook and reported better-than-expected Q1 results amid higher COVID vaccine sales. The stock still declined 2.9%.Amgen's (AMGN) Q1 EPS beat was primarily driven by lower administrative costs and taxes, Morgan Stanley said. Amgen shares fell 5.6%.Novo Nordisk (NVO) rebranded its oral semaglutide medication for type 2 diabetes as Ozempic. It was formerly marketed as Rybelsus. Novo shares gained 3.2%.

$AMGN$MRNA$NVO
Wire

Amgen's Q1 EPS Beat Driven Lower Taxes, SG&A, Morgan Stanley Says

Amgen's (AMGN) posted in-line Q1 revenue, but EPS beat was primarily driven by lower administrative costs and taxes, Morgan Stanley said in a Friday research report.The brokerage said it sees favorable access dynamics for the company's Uplinza, which could become the first-line choice for appropriate patients. The company also announced the trials of the MariTide drug for obesity and type 2 diabetes.Morgan Stanley said it awaits further developments on Tavneos, for which FDA proposed to withdraw the approval, alleging ChemoCentryx manipulated the clinical data. Amgen may seek a hearing on this proposal, analysts said. While the company continues to believe in Tavneos' benefit-risk profile, the firm said the removal of the drug from its model would impact the price target.The brokerage said it reiterated its equalweight rating on the stock and boosted its price target to $332 per share from $326.Price: $329.27, Change: $-16.99, Percent Change: -4.91%

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Research

Research Alert: Amgn Q1 Tops Estimates Driven By Diversified Growth And Pipeline Investments

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Amgen delivered solid Q1 2026 results with revenues of $8.6B (+6% Y/Y), $50M above consensus, and non-GAAP EPS of $5.15 (+5% Y/Y), beating expectations by $0.38. The company demonstrated continued execution of its portfolio diversification strategy, with sixteen products achieving double-digit growth and seventeen products annualizing above $1B. We favorably view AMGN's broad-based growth across newer therapeutic franchises, with standout performances from Repatha (+34% Y/Y), TEPEZZA (+29% Y/Y), and TEZSPIRE (+20% Y/Y), offsetting expected declines in legacy products facing biosimilar competition. Management raised 2026 guidance to $37.1B-$38.5B in revenues and EPS of $21.70-$23.10. R&D expenses surged 16% Y/Y to $1.7B, reflecting intensive investments in the MariTide obesity program and multiple Phase 3 studies. We believe AMGN's successful portfolio transformation and strategic focus on high-growth therapeutic areas position it well for sustained long-term growth.

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Wire

Amgen Q1 Adjusted Earnings, Revenue Rise

Amgen (AMGN) reported Q1 adjusted earnings late Thursday of $5.15 per diluted share, up from $4.90 a year earlier.Analysts polled by FactSet expected $4.77.Revenue for the three months ended March 31 was $8.62 billion, up from $8.15 billion a year earlier.Analysts surveyed by FactSet expected $8.58 billion.For the full-year 2026, the company now expects adjusted EPS of $21.70 to $23.10 on revenue of $37.10 billion to $38.50 billion. Analysts expect EPS of $22.33 on revenue of $37.81 billion.

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