Company Overview - Amgen is one of the largest biotech companies globally, with a strong presence in various therapeutic areas including oncology, cardiovascular disease, neuroscience, inflammation, bone health, and nephrology [11] - The company has developed significant drugs such as Epogen and Neupogen, and has launched next-generation products like Aranesp and Neulasta [11] - Amgen's acquisition of Immunex Corporation provided access to the blockbuster drug Enbrel, although older drugs are facing declining sales due to competition from biosimilars [11] Financial Performance - Amgen is currently rated 3 (Hold) on the Zacks Rank, with a VGM Score of B [12] - The company has a Momentum Style Score of A, with shares increasing by 8.1% over the past four weeks [12] - Earnings estimates for fiscal 2024 have been revised higher by three analysts in the last 60 days, with the Zacks Consensus Estimate increasing by $0.05 to $19.56 per share [12] - Amgen has an average earnings surprise of 4.1% [12] Investment Potential - With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, Amgen is recommended for investors' consideration [13]

Core Insights - The European Commission has approved BLINCYTO® (blinatumomab) as part of consolidation therapy for adult patients with newly diagnosed Philadelphia chromosome-negative CD19-positive B-cell precursor acute lymphoblastic leukemia (B-ALL) [1][7] - The approval is based on the Phase 3 E1910 clinical trial, which demonstrated that adding BLINCYTO to multiphase consolidation chemotherapy significantly improved overall survival compared to chemotherapy alone [2][3] Company Overview - Amgen is a biotechnology company that discovers, develops, manufactures, and delivers innovative medicines, with a focus on treating serious diseases [9] - The company has been recognized as one of the "World's Most Innovative Companies" and is part of the Dow Jones Industrial Average and Nasdaq-100 Index [10] Industry Context - Acute lymphoblastic leukemia (ALL) is a fast-growing blood cancer, with B-ALL being the most common subtype, constituting approximately 75% of cases in adults [4] - The prevalence of ALL in Europe is estimated at 1.28 persons per 100,000 people [4] Product Information - BLINCYTO is the first globally approved Bispecific T-cell Engager (BiTE®) immuno-oncology therapy, targeting CD19 surface antigens on B cells to enhance the immune response against cancer [5][8] - In the EU, BLINCYTO is indicated for various patient groups, including adults with newly diagnosed Philadelphia chromosome-negative CD19-positive B-ALL as part of consolidation therapy [6][13]

Core Viewpoint - Amgen is expected to exceed earnings expectations for the fourth quarter and full year 2024, with a consensus estimate of $8.84 billion in sales and $5.01 per share in earnings [1] Group 1: Sales Performance - Strong volume growth is anticipated for Amgen's products, including Evenity, Repatha, Prolia, Kyprolis, and Blincyto, although prices are expected to decline due to increased rebates [2] - The Zacks Consensus Estimate for sales of Prolia, Repatha, Evenity, and Blincyto is $1.18 billion, $551 million, $413 million, and $339 million, respectively [2] - Estimates for Prolia, Repatha, and Evenity sales are $1.05 billion, $542.9 million, and $418.3 million, respectively, with Tezspire and Tavneos contributing $274.4 million and $102.9 million to top-line growth [3] Group 2: New Product Launches - The U.S. launch of Imdelltra for advanced small cell lung cancer is progressing well, with a 200% sequential growth in the third quarter, expected to continue into the fourth quarter [4] - Tepezza sales are projected to be flat to slightly down, with efforts to reorganize and expand the sales force targeting low clinical activity score patients [6] Group 3: Financial Estimates - The Zacks Consensus Estimate for Otezla is $611 million, while the estimate for Enbrel is $861 million, with Amgen's estimates being $605.4 million and $874.5 million, respectively [5] - Adjusted EPS for the fourth quarter is expected to be lower than the third quarter due to historically high R&D costs [7] Group 4: Pipeline Developments - Updates on the pipeline candidate MariTide for obesity are anticipated, with recent phase II study results showing an average weight loss of approximately 20% over 52 weeks, which fell short of investor expectations [8] Group 5: Earnings Surprise History - Amgen has a strong earnings surprise history, with an average surprise of 4.10% over the last four quarters, although the stock has declined 10.6% over the past year [10]

Company Overview - Amgen is one of the largest biotech companies globally, with a strong presence in various therapeutic areas including oncology, cardiovascular disease, and neuroscience [12] - The company has developed successful drugs such as Epogen and Neupogen, and has launched next-generation products like Aranesp and Neulasta [12] - Amgen's acquisition of Immunex Corporation provided access to the blockbuster drug Enbrel, although older drugs are facing declining sales due to competition [12] Financial Performance - Amgen has a Zacks Rank of 3 (Hold) and a VGM Score of B, indicating a solid position in the market [13] - The company has a Value Style Score of B, supported by a forward P/E ratio of 13.66, which is attractive for value investors [13] - For fiscal 2024, the Zacks Consensus Estimate for earnings has increased by $0.05 to $19.56 per share, with an average earnings surprise of 4.1% [13] Investment Potential - With a solid Zacks Rank and top-tier Value and VGM Style Scores, Amgen is recommended for investors' consideration [14]

Core Viewpoint - Amgen is expected to report a year-over-year increase in earnings and revenues for the quarter ended December 2024, with the actual results being a significant factor influencing its near-term stock price [1][2]. Earnings Expectations - The consensus estimate for Amgen's quarterly earnings is $5.01 per share, reflecting a year-over-year increase of 6.4% [3]. - Revenues are projected to reach $8.84 billion, which is a 7.9% increase from the same quarter last year [3]. Estimate Revisions - Over the last 30 days, the consensus EPS estimate has been revised down by 0.17%, indicating a reassessment by analysts [4]. - The Most Accurate Estimate for Amgen is higher than the Zacks Consensus Estimate, resulting in a positive Earnings ESP of 3.15% [10][11]. Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that a positive Earnings ESP reading is a strong predictor of an earnings beat, especially when combined with a Zacks Rank of 1, 2, or 3 [8]. - Amgen currently holds a Zacks Rank of 3, indicating a likelihood of beating the consensus EPS estimate [11]. Historical Performance - In the last reported quarter, Amgen exceeded the expected earnings of $5.11 per share by delivering $5.58, resulting in a surprise of 9.20% [12]. - Over the past four quarters, Amgen has consistently beaten consensus EPS estimates [13]. Conclusion - While Amgen is positioned as a strong candidate for an earnings beat, other factors should also be considered when evaluating the stock ahead of its earnings release [16].

Core Viewpoint - Amgen (AMGN) has shown a strong performance recently, with a return of +4.9% over the past month, outperforming the S&P 500 composite's +1.1% change, indicating potential positive momentum for the stock [2]. Earnings Estimate Revisions - For the current quarter, Amgen is expected to report earnings of $5.01 per share, reflecting a year-over-year increase of +6.4%. However, the Zacks Consensus Estimate has decreased by -3.6% in the last 30 days [5]. - The consensus earnings estimate for the current fiscal year stands at $19.56, indicating a year-over-year change of +4.9%, with a slight increase of +0.7% over the past month [5]. - For the next fiscal year, the consensus estimate is $20.52, also showing a +4.9% change from the previous year, with a +0.7% increase in the last month [6]. Revenue Growth Projections - Amgen's consensus sales estimate for the current quarter is $8.84 billion, indicating a year-over-year growth of +7.9%. The estimates for the current and next fiscal years are $33.18 billion and $34.31 billion, reflecting changes of +17.7% and +3.4%, respectively [9]. Last Reported Results - In the last reported quarter, Amgen achieved revenues of $8.5 billion, representing a year-over-year increase of +23.2%. The EPS for this period was $5.58, compared to $4.96 a year ago [10]. - The reported revenues were slightly below the Zacks Consensus Estimate of $8.51 billion, resulting in a surprise of -0.04%. However, the EPS exceeded expectations by +9.2% [11]. Valuation Metrics - Amgen is graded B in the Zacks Value Style Score, indicating that it is trading at a discount compared to its peers [15]. - The evaluation of Amgen's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), suggests that the stock may be undervalued relative to its historical values and peers [13][14]. Conclusion - The current Zacks Rank of 3 suggests that Amgen may perform in line with the broader market in the near term, despite the mixed signals from earnings estimates and valuation metrics [16].

Stock Performance - Amgen's stock ended the recent trading session at $277 88, showing a +1 62% increase from the previous day's closing price [1] - The stock outperformed the S&P 500, which gained 0 53%, while the Dow gained 0 93% and the Nasdaq added 0 22% [1] - Over the past month, Amgen's shares gained 3 38%, outperforming the Medical sector's 1 49% gain and the S&P 500's 2 69% gain [1] Earnings and Revenue Projections - Amgen's upcoming earnings report is scheduled for February 4, 2025, with projected earnings per share (EPS) of $5 01, reflecting a 6 37% increase from the same quarter last year [2] - Revenue is expected to be $8 84 billion, indicating a 7 86% increase compared to the same quarter of the previous year [2] Analyst Estimates and Valuation Metrics - Recent shifts in analyst projections for Amgen indicate changing near-term business trends, with upbeat changes reflecting a favorable outlook on the company's business health and profitability [3] - The Zacks Consensus EPS estimate has moved 0 43% higher within the past month, and Amgen currently holds a Zacks Rank 3 (Hold) [5] - Amgen's Forward P/E ratio is 13 36, representing a discount compared to the industry average of 23 22 [6] - The company's PEG ratio is 2 78, higher than the industry average of 1 36, reflecting its expected earnings growth trajectory [7] Industry Performance - The Medical - Biomedical and Genetics industry, part of the Medical sector, holds a Zacks Industry Rank of 74, placing it in the top 30% of all 250+ industries [8] - The Zacks Industry Rank shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [8]

Core Insights - Scientists at deCODE genetics and Amgen have created a comprehensive map of human DNA recombination, enhancing the understanding of genetic diversity and its implications for health and fertility [1][2][3] Group 1: Research Findings - The new recombination map is the first to include shorter-scale shuffling of grandparental DNA, which is challenging to detect due to high sequence similarity [3] - The map identifies regions of DNA that lack significant reshuffling, likely to safeguard critical genetic functions and prevent chromosomal issues [3] - The research highlights that errors in the recombination process can lead to reproductive challenges, contributing to infertility affecting approximately 10% of couples globally [4] Group 2: Gender Differences - The study reveals distinct patterns of genome recombination between men and women, with women experiencing fewer non-crossover recombinations that increase with age, potentially explaining higher risks of pregnancy complications in older mothers [5] - Men do not exhibit age-related changes in recombination frequency, although both sexes can pass mutations to their offspring [5] Group 3: Evolutionary Implications - Understanding the recombination process is crucial for insights into human evolution and individual health differences, as all human genetic diversity stems from recombination and de novo mutations [6] - The map indicates that mutations are more frequent near regions of DNA mixing, suggesting a strong correlation between recombination and mutation processes [6] Group 4: Company Background - deCODE genetics, based in Reykjavik, Iceland, is a leader in human genome analysis and has identified genetic risk factors for numerous common diseases [7] - The company's goal is to leverage genetic insights to develop new diagnostic, treatment, and prevention methods for diseases [7]

Core Viewpoint - Amgen's KRAS inhibitor, Lumakras, has received FDA approval for use in combination with Vectibix for treating KRAS G12C-mutated metastatic colorectal cancer, marking a significant advancement in targeted therapy for this patient population [1][3]. Group 1: Product Approval and Clinical Data - The FDA approved Lumakras in combination with Vectibix for adult patients with KRAS G12C-mutated metastatic colorectal cancer who have previously undergone chemotherapy [1]. - The approval was based on the phase III CodeBreaK 300 study, which demonstrated superior progression-free survival (PFS) for the Lumakras and Vectibix combination compared to standard-of-care treatments [3][4]. - The study evaluated two doses of Lumakras (960 mg daily or 240 mg daily) and showed favorable overall survival and overall response rates as key secondary endpoints [5]. Group 2: Market Performance and Sales - In the first nine months of 2024, Lumakras generated sales of $265 million, reflecting a year-over-year increase of 30.5% [7]. - Amgen's shares have decreased by 12.2% over the past year, slightly better than the industry decline of 14.1% [2]. Group 3: Future Prospects and Studies - Ongoing label expansion studies for Lumakras aim to broaden the addressable patient population, which could significantly enhance future sales [7]. - Amgen is also exploring Lumakras in phase I and II studies for non-small cell lung cancer (NSCLC), both as a monotherapy and in combination with other therapies, which may lead to additional approvals [8].

Company Performance - Amgen's stock closed at $272.11, with a daily increase of 0.99%, underperforming the S&P 500 which gained 1% [1] - Over the past month, Amgen's shares increased by 3.15%, outperforming the Medical sector's decline of 1.36% and the S&P 500's drop of 2.14% [1] Upcoming Earnings - Amgen is set to release its earnings on February 4, 2025, with an expected EPS of $5.02, reflecting a growth of 6.58% year-over-year [2] - The consensus estimate for quarterly revenue is $8.85 billion, indicating a 7.92% increase compared to the same quarter last year [2] Analyst Estimates - Changes in analyst estimates for Amgen are crucial as they often reflect short-term business dynamics, with positive revisions signaling a favorable business outlook [3] Valuation Metrics - Amgen has a Zacks Rank of 3 (Hold), with a Forward P/E ratio of 13.23, which is lower than the industry average of 21.97 [5] - The company has a PEG ratio of 2.75, compared to the industry average of 1.43, indicating a higher expected earnings growth rate relative to its price [6] Industry Context - The Medical - Biomedical and Genetics industry, which includes Amgen, has a Zacks Industry Rank of 56, placing it in the top 23% of over 250 industries [6] - Research indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [7]