Why Amgen Stock Edged Past the Market on Thursday

Core Viewpoint - Amgen's stock performance was relatively stable, slightly outperforming the S&P 500 despite a broader market decline of nearly 1.7% on the same day [1]. Group 1: Analyst Commentary - Jim Cramer, a prominent stock analyst, positively highlighted Amgen in his CNBC segment, citing encouraging results from a phase 3 clinical trial of its cholesterol drug Repatha, which significantly reduced the risk of heart attack and stroke [3]. - Scotiabank analyst Louis Chen initiated coverage of Amgen with a sector outperform rating and set a price target of $385 per share [4]. Group 2: Market Reaction - Despite the positive analyst commentary, it is suggested that the positive news regarding Repatha is already reflected in Amgen's stock price, indicating that the market's reaction was appropriate [5]. - Some investors reacted positively to the bullish sentiments from analysts, although it is noted that Amgen was not included in a list of top stock recommendations by The Motley Fool [6][7].