Is Amgen Stock Still a Buy After an Unexpected Reveal of Data?

Core Viewpoint - Amgen's stock has declined by 6% over the last 30 days, attributed to an unintentional disclosure of clinical trial data that raised concerns among investors [1][2] Group 1: Clinical Trial Data and Market Reaction - A Wall Street analyst discovered previously unnoticed data in Amgen's phase 1 trial results for the anti-obesity candidate MariTide, which indicated a 4% average loss of bone mineral density in patients receiving the highest dose [3][4] - Amgen stated that the phase 1 study results do not suggest any bone safety concerns and maintain confidence in MariTide's potential [5] - The loss of bone density could be linked to rapid weight loss or unrelated medical conditions, and the clinical investigators did not find the extent alarming [5][6] Group 2: Market Position and Future Outlook - Despite the recent data, there is no immediate emergency for shareholders, as existing anti-obesity medications also have side effects, yet continue to be sold [6][9] - Amgen's earnings per share rose by 62% to $5.22 in Q3, indicating strong performance from existing drugs and a positive growth outlook [9] - The company will need to reassure investors regarding MariTide, but the current data does not suggest increased risks for the program [10][11]