Amgen (NASDAQ:AMGN) is expected to report Q3 earnings after the market close on Monday, October 24 with a conference call scheduled for 5:00 pm ET.
Analysts are looking for EPS of $1.29 on revenue of $3.87B. The consensus range is $1.23-$1.39 for EPS, and $3.77B-$3.93B for revenue, according to First Call. At the time of its Q2 results on July 29, Amgen said it sees FY11 EPS at the upper end of $5-$5.20 range. Also at that time, the company reported Q2 Aranesp sales down 3% and Epogen sales down 17%. Investors will be watching how recent safety warnings have impacted certain drug sales, particularly in its anemia franchise. Also of significance to Amgen investors is the reduced reimbursement coverage by Medicare and Medicaid on Enbrel.
In early September, BMO Capital initiated coverage on Amgen with an Outperform and a $67 target, while Standpoint Research downgraded Amgen to Hold from Buy.