Amgen Rises 0.75 Despite 27.65% Volume Drop to 430M 272nd in Market as Golden Cross and Earnings Outlook Fuel Optimism

Amgen (AMGN) closed on July 29, 2025, with a 0.75% gain, despite a 27.65% decline in trading volume to $0.43 billion, ranking 272nd in the market. The stock's performance aligns with broader technical and earnings-related signals ahead of its August 5 earnings release.

Analysts anticipate Amgen will report quarterly earnings of $5.25 per share and revenue of $8.86 billion for the June 2025 quarter, representing a 5.6% year-over-year increase. Recent revisions to the consensus estimate have shifted slightly lower by 0.21% over 30 days, but the Zacks Earnings ESP model suggests a positive surprise is likely. The ESP reading of +1.19%, combined with a Zacks Rank #3 (Hold), indicates a strong probability of exceeding expectations, building on its history of beating estimates in four of the last four quarters.

Technically, Amgen’s 50-day moving average recently crossed above its 200-day moving average, forming a "golden cross" signal typically associated with bullish momentum. The stock has risen 7.9% over the past four weeks and maintains a favorable earnings outlook, with six upward revisions to its fiscal 2025 forecast in the last 60 days. Institutional ownership has also increased, with Brighton Jones LLC boosting its stake by 23.5% in Q4 2024.

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