NEW YORK (TheStreet) -- Shares of Amgen (AMGN) - Get Report were gaining 1.9% to $175 after-hours Thursday after the biotech company beat analysts' estimates for earnings in the second quarter.

Amgen reported earnings of $2.57 a share for the second quarter, above analysts' estimates of $2.43 a share for the quarter. Revenue grew 3.7% year over year to $5.37 billion for the quarter, compared to analysts' estimates of $5.32 billion.

The company said it now expects earnings of $9.55 to $9.80 a share for full year 2015, up from its previous guidance of $9.35 to $9.65 a share. Analysts expect Amgen to report earnings of $9.62 a share for the year.

Amgen also raised its 2015 revenue guidance to a range of $21.1 billion to $21.4 billion, up from a range of $20.9 billion to $21.3 billion. Analysts expect the company to report revenue of $21.17 billion for full year 2015.

TheStreet Ratings team rates AMGEN INC as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:

"We rate AMGEN INC (AMGN) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, revenue growth and reasonable valuation levels. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."

You can view the full analysis from the report here: AMGN Ratings Report

AMGN data by YCharts

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