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

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]