Amgen Inc. (AMGN): A Bull Case Theory

We came crossed a bullish thesis connected Amgen Inc. connected R. Dennis’s Substack by OppCost. In this article, we volition summarize the bulls’ thesis connected AMGN. Amgen Inc.'s stock was trading astatine $382.87 arsenic of February 24th. AMGN’s trailing and guardant P/E were 24.32 and 13.74, respectively according to Yahoo Finance.

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Amgen Inc. discovers, develops, manufactures, and delivers quality therapeutics worldwide. AMGN is attracting bullish positioning aft a trader sold 1,000 June 18, 2026 $340 enactment contracts for $9.00 each, collecting $900,000 successful upfront premium. With the banal trading astir $376 arsenic of February 23, 2026, the onslaught sits astir 10% beneath the existent price, providing a meaningful cushion earlier duty hazard emerges.

The commercialized reflects assurance that caller fundamentals person created a durable level nether the shares. Amgen delivered a Q4 bushed and raise, guiding 2026 gross to astir $38.4 billion, signaling accelerating momentum. Growth successful Repatha, up 44%, combined with anticipated Phase 3 information for its obesity candidate MariTide, reinforces the communicative that Amgen is transitioning from a antiaircraft dividend sanction to a growth-oriented biotech leader.

The $9.00 premium lowers the effectual break-even to $331. At management’s midpoint 2026 EPS guidance of $22.30, Amgen presently trades adjacent 17x guardant earnings; duty astatine $331 would connote an introduction aggregate person to 14.8x. For a large-cap biotech with diversified gross streams, beardown currency generation, and an expanding pipeline, that valuation appears compelling.

Time decay further strengthens the setup. With respective months until expiration, theta works successful the seller’s favor as agelong arsenic shares stay unchangeable oregon inclination higher toward expert targets adjacent $440. Supported by astir $9.1 cardinal successful currency and a 2.6% dividend yield, Amgen offers some equilibrium expanse spot and upside optionality tied to the obesity market. The enactment merchantability expresses a bullish thesis: monetize volatility contiguous portion positioning for a imaginable re-rating tomorrow.

Previously, we covered a bullish thesis on Amgen Inc. (AMGN) by Magnus Ofstad successful May 2025, which highlighted beardown net growth, MariTide pipeline potential, and valuation upside. AMGN's banal terms has appreciated by astir 36.41% since our coverage. OppCost shares a akin presumption but emphasizes connected options marketplace positioning and improving fundamentals supporting a durable valuation floor.

Amgen Inc. is not on our database of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 62 hedge money portfolios held AMGN at the extremity of the third quarter which was 62 in the previous quarter. While we admit the hazard and imaginable of AMGN as an investment, our condemnation lies successful the content that immoderate AI stocks clasp greater committedness for delivering higher returns and doing truthful wrong a shorter clip frame. If you are looking for an AI banal that is much promising than AMGN and that has 10,000% upside potential, cheque retired our study astir this cheapest AI stock.