Amgen Inc. (NASDAQ: AMGN) is scheduled to report its earnings after the markets close on Thursday. There are consensus estimates from Thomson Reuters that call for $2.43 in earnings per share (EPS) on $5.32 billion in revenue. The same period from the previous year had $2.37 in EPS on $5.18 billion in revenue.

The company posted outstanding first-quarter results and the biotech giant remains a top stock for investors to buy. First-quarter 2015 earnings were $2.48 per share, soaring above consensus estimate of $2.07 and the year-ago earnings of $1.86. Total revenues increased 11.3% to $5.03 billion in the first quarter, and the stellar earnings were driven by higher revenues and lower operating expenses.

Many on Wall Street point to the company’s tremendous pipeline and outstanding forward earnings and revenue capabilities. Amgen’s double-digit earnings and revenue growth rate is expected to continue for the foreseeable future because of the company’s very deep clinical pipeline, which include potential blockbusters Repatha for high cholesterol and Kyprolis for relapsed multiple myeloma. Amgen also has one of the industry’s deepest biosimilar pipelines, which is expected to generate upward of $3 billion in annual sales in the years ahead.

Amgen continues to trim its gigantic workforce, and whether the idea of Dan Loeb of Third Point can push Amgen to split into two separate companies to boost value remains up in the air.

A few analysts weighed in on Amgen ahead of earnings:

• Piper Jaffray reiterated a Buy rating and a $192 price target.
• RBC reitertated an Outperform rating.
• Deutsche bank reiterated a Buy rating.
• Nomura reiterated a Buy rating with a $182 price target.

Shares of Amgen were down 0.8% at $170.08 on Thursday morning. The stock has a consensus analyst price target of $179.00 and a 52-week trading range of $124.76 to $174.80.

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