On Friday, Novo Nordisk A/S NVO released headline results from the REDEFINE 1 Phase 3 trial in the global REDEFINE program.When evaluating the effects of treatment if all people adhered to treatment, people treated with CagriSema achieved a weight loss of 22.7% after 68 weeks compared to a reduction of 11.8% with cagrilintide 2.4 mg, 16.1% with semaglutide 2.4 mg and 2.3% with placebo alone.In November, Novo Nordisk said its hybrid drug, CagriSema, aims to reduce weight by 25% without added side effects.Wil ...

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Core Viewpoint - Amgen's stock performance has lagged behind the broader market, with a recent decline of 7.73% over the past month, while the Medical sector and S&P 500 showed lesser declines and gains respectively [1] Financial Performance Expectations - Analysts anticipate Amgen will report earnings of $4.97 per share, reflecting a year-over-year growth of 5.52% [2] - The consensus estimate for quarterly revenue is $8.82 billion, indicating a 7.66% increase from the previous year [2] - For the entire fiscal year, earnings are projected at $19.51 per share and revenue at $33.16 billion, representing growth of 4.61% and 17.65% respectively [3] Analyst Projections and Market Sentiment - Recent shifts in analyst projections for Amgen are crucial as they often indicate changes in near-term business trends, with upward revisions suggesting positive sentiment towards the company's operations [4] - The Zacks Rank system, which incorporates estimate changes, currently rates Amgen as 3 (Hold), with a slight increase of 0.03% in the consensus EPS estimate over the past month [6] Valuation Metrics - Amgen's Forward P/E ratio stands at 14.13, significantly lower than the industry average of 24.46, indicating that Amgen is trading at a discount compared to its peers [7] - The company has a PEG ratio of 3.05, compared to the industry average of 1.81, suggesting that while Amgen's earnings growth is expected, it is currently valued higher relative to that growth [8] Industry Context - The Medical - Biomedical and Genetics industry, to which Amgen belongs, has a Zacks Industry Rank of 63, placing it in the top 26% of over 250 industries, indicating strong performance potential [8][9]

The Amgen logo is displayed outside Amgen headquarters in Thousand Oaks, California, on May 17, 2023.A version of this article first appeared in CNBC's Healthy Returns newsletter, which brings the latest health-care news straight to your inbox. Subscribe here to receive future editions.Wall Street is chewing over critical data released last week on Amgen's experimental weight loss injection – a potential competitor in the blockbuster obesity drug market. Some analysts said the initial mid-stage trial result ...

Investment Establishes Second Facility in Holly Springs; Builds on Previous $550M Commitment THOUSAND OAKS, Calif., Dec. 5, 2024 /PRNewswire/ -- Amgen (NASDAQ: AMGN) today announced a $1 billion expansion to establish a second drug substance manufacturing facility in North Carolina. This brings the company's total planned investment in Holly Springs to more than $1.5 billion, building on its previously announced $550 million commitment. "This expansion underscores our unwavering focus on bringing transforma ...

The relationship between interest rates and dividend stocks tends to follow a predictable pattern. When the Federal Reserve signals a shift toward monetary easing, investors often rotate toward stable, high-yielding equities that can provide both income and potential appreciation.Amgen (AMGN -0.02%) offers an intriguing test case for this dynamic heading into 2025. The biotech-giant's shares have slumped 3.37% in 2024, while the S&P 500 has surged 26.8% as of this writing, creating what might be a compellin ...

Amgen Inc. (NASDAQ:AMGN) Annual Evercore ISI HealthCONx Healthcare Conference December 4, 2024 10:00 AM ET Company Participants Peter Griffith - Executive Vice President and Chief Financial Officer James Bradner - Executive Vice President, Research and Development, and Chief Scientific Officer Susan Sweeney - Executive Vice President, Obesity and Related Conditions Justin Claeys - Vice President, Investor Relations Conference Call Participants Umer Raffat - Evercore ISI Umer Raffat Excellent. Hello, everyon ...

Amgen’s (AMGN) stock has declined 12.1% in the past month. Late last month, Amgen announced the much-awaited 52-week top-line data from a phase II study on MariTide, its GLP-1 therapy being developed for obesity and related conditions. The data showed that MariTide led to sustainable weight loss, robust and clinically meaningful improvements in cardiometabolic parameters and a strong reduction of average blood sugar levels.However, despite the encouraging data, Amgen’s stock has declined as the weight loss ...

The battle for the multibillion-dollar obesity market just got fiercer. Amgen Inc's AMGN new drug candidate, MariTide, reported promising results, helping patients shed around 20% of their body weight. But when up against the current titans — Eli Lilly And Co LLY and Novo Nordisk A/S NVO — "promising" may not cut it. Weight Loss: A Tough Market For Newcomers Eli Lilly and Novo Nordisk's drugs, Zepbound and Wegovy, aren't just treatments—they're juggernauts. Amgen's MariTide enters the fray with a unique ant ...

THOUSAND OAKS, Calif., Dec. 2, 2024 /PRNewswire/ -- Amgen (NASDAQ:AMGN) will present at Citi's 2024 Global Healthcare Conference at 9:30 a.m. ET on Thursday, Dec. 5, 2024. Peter Griffith, executive vice president and chief financial officer at Amgen, Jay Bradner, executive vice president of Research and Development and chief scientific officer at Amgen, and Susan Sweeney, executive vice president of Obesity and Related Conditions at Amgen, will participate in a fireside chat at the conference. The webcast w ...