Here's Why Amgen (AMGN) is a Strong Value Stock

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]