PREVIEW: Amgen slips with earnings due after the bell

Amgen Inc AMGN.O down 2.6% to $283.41 ahead of Q1 results due after the closing bell

The biotech company is expected to post adj EPS of $4.30 on revenue of $8.06 bln, per LSEG data, vs yr-ago results of $3.96 per share in earnings and $7.45 bln in revenue

AMGN has met or beat EPS estimate in seven of past eight qtrs, with most recent miss in Q2 2024

Investors will look for any comments related to the potential effect of the Trump administration's tariffs on pharmaceuticals

Of the 33 analysts that cover AMGN, the breakdown of recommendations is 16 "strong buy" or "buy," 14 "hold" and 3 "sell" or "strong sell" ratings

Median price target of $329 is up from $316 on Feb 1

With moves on Thurs, AMGN shares up ~9% YTD vs ~4% drop in the Dow Industrials .DJI

AMGN options imply a 4.5% swing for the shares, in either direction, by Fri; that is just below the 5% move the stock has logged on the day after results over the last 8-qtrs, according to Trade Alert