Core Viewpoint - Amgen's stock performance has lagged behind the broader market, with a recent decline of 7.73% over the past month, while the Medical sector and S&P 500 showed lesser declines and gains respectively [1] Financial Performance Expectations - Analysts anticipate Amgen will report earnings of $4.97 per share, reflecting a year-over-year growth of 5.52% [2] - The consensus estimate for quarterly revenue is $8.82 billion, indicating a 7.66% increase from the previous year [2] - For the entire fiscal year, earnings are projected at $19.51 per share and revenue at $33.16 billion, representing growth of 4.61% and 17.65% respectively [3] Analyst Projections and Market Sentiment - Recent shifts in analyst projections for Amgen are crucial as they often indicate changes in near-term business trends, with upward revisions suggesting positive sentiment towards the company's operations [4] - The Zacks Rank system, which incorporates estimate changes, currently rates Amgen as 3 (Hold), with a slight increase of 0.03% in the consensus EPS estimate over the past month [6] Valuation Metrics - Amgen's Forward P/E ratio stands at 14.13, significantly lower than the industry average of 24.46, indicating that Amgen is trading at a discount compared to its peers [7] - The company has a PEG ratio of 3.05, compared to the industry average of 1.81, suggesting that while Amgen's earnings growth is expected, it is currently valued higher relative to that growth [8] Industry Context - The Medical - Biomedical and Genetics industry, to which Amgen belongs, has a Zacks Industry Rank of 63, placing it in the top 26% of over 250 industries, indicating strong performance potential [8][9]

The Amgen logo is displayed outside Amgen headquarters in Thousand Oaks, California, on May 17, 2023.A version of this article first appeared in CNBC's Healthy Returns newsletter, which brings the latest health-care news straight to your inbox. Subscribe here to receive future editions.Wall Street is chewing over critical data released last week on Amgen's experimental weight loss injection – a potential competitor in the blockbuster obesity drug market. Some analysts said the initial mid-stage trial result ...

Investment Establishes Second Facility in Holly Springs; Builds on Previous $550M Commitment THOUSAND OAKS, Calif., Dec. 5, 2024 /PRNewswire/ -- Amgen (NASDAQ: AMGN) today announced a $1 billion expansion to establish a second drug substance manufacturing facility in North Carolina. This brings the company's total planned investment in Holly Springs to more than $1.5 billion, building on its previously announced $550 million commitment. "This expansion underscores our unwavering focus on bringing transforma ...

The relationship between interest rates and dividend stocks tends to follow a predictable pattern. When the Federal Reserve signals a shift toward monetary easing, investors often rotate toward stable, high-yielding equities that can provide both income and potential appreciation.Amgen (AMGN -0.02%) offers an intriguing test case for this dynamic heading into 2025. The biotech-giant's shares have slumped 3.37% in 2024, while the S&P 500 has surged 26.8% as of this writing, creating what might be a compellin ...

Amgen Inc. (NASDAQ:AMGN) Annual Evercore ISI HealthCONx Healthcare Conference December 4, 2024 10:00 AM ET Company Participants Peter Griffith - Executive Vice President and Chief Financial Officer James Bradner - Executive Vice President, Research and Development, and Chief Scientific Officer Susan Sweeney - Executive Vice President, Obesity and Related Conditions Justin Claeys - Vice President, Investor Relations Conference Call Participants Umer Raffat - Evercore ISI Umer Raffat Excellent. Hello, everyon ...

Core Viewpoint - Amgen's stock has experienced a decline of 12.1% over the past month, primarily due to investor disappointment with the weight loss results from its GLP-1 therapy, MariTide, which fell at the lower end of expectations [1][2] Group 1: MariTide and Clinical Data - The phase II study of MariTide demonstrated sustainable weight loss and significant improvements in cardiometabolic parameters, including a reduction in average blood sugar levels [1] - The weight loss reduction achieved was 20%, which aligns with results from existing GLP-1 drugs like Eli Lilly's Zepbound and Novo Nordisk's Wegovy [2] - Concerns regarding MariTide's impact on bone mineral density (BMD) were raised by analysts, but Amgen later clarified that there were no significant changes in BMD observed [3] Group 2: Financial Performance and Drug Portfolio - Amgen is facing declining revenues from oncology biosimilars and legacy products, with competitive pressures affecting sales of key brands like Otezla and Lumakras [5] - However, revenues from established drugs such as Prolia, Repatha, and new drugs like Tavneos and Tezspire are contributing positively to the top line [5] - The company is exploring additional indications for several key drugs, which could enhance revenue growth [6] Group 3: Pipeline and Future Prospects - Amgen has invested significantly in M&A to diversify its pipeline, with MariTide being developed as a convenient single-dose autoinjector [7] - The company plans to initiate the phase III MARITIME study for MariTide, targeting obesity and type II diabetes [8] - Amgen has several preclinical candidates for obesity and other promising drugs like Imdelltra and rocatinlimab in its pipeline, which could drive future growth [9][10] Group 4: Stock Performance and Valuation - Amgen's stock has declined 3.4% year-to-date, contrasting with an 8.8% increase in the industry [13] - The stock is currently trading at a price/earnings ratio of 13.73, which is lower than the industry average of 16.97, indicating an attractive valuation [16] - The Zacks Consensus Estimate for 2024 earnings has slightly increased from $19.49 to $19.51 per share over the past month [19] Group 5: Investment Outlook - Despite challenges such as pricing pressures and competitive threats, Amgen is positioned for long-term revenue growth driven by strong performance from key drugs and innovative medicines [22][23] - The recent data on MariTide, while below expectations, still holds potential for significant impact on the company's future [23] - The stock's reasonable valuation provides a compelling reason for investors to maintain their positions [24]

The battle for the multibillion-dollar obesity market just got fiercer. Amgen Inc's AMGN new drug candidate, MariTide, reported promising results, helping patients shed around 20% of their body weight. But when up against the current titans — Eli Lilly And Co LLY and Novo Nordisk A/S NVO — "promising" may not cut it. Weight Loss: A Tough Market For Newcomers Eli Lilly and Novo Nordisk's drugs, Zepbound and Wegovy, aren't just treatments—they're juggernauts. Amgen's MariTide enters the fray with a unique ant ...

Core Viewpoint - Amgen will participate in Citi's 2024 Global Healthcare Conference on December 5, 2024, featuring key executives in a fireside chat format [1] Group 1: Conference Details - The conference will include Peter Griffith, Jay Bradner, and Susan Sweeney from Amgen [1] - The event will be webcast live and accessible to media, investors, and the public [1][2] - The webcast will be archived for at least 90 days post-event [2] Group 2: Company Overview - Amgen is a leader in biotechnology, focusing on innovative medicines for serious diseases [3] - The company has a robust pipeline targeting cancer, heart disease, osteoporosis, inflammatory diseases, and rare diseases [3] - Amgen has received multiple accolades in 2024, including being named one of the "World's Most Innovative Companies" and "America's Best Large Employers" [4][5] Group 3: Market Position - Amgen is part of the Dow Jones Industrial Average and the Nasdaq-100 Index, indicating its significant market presence [4][5] - The company has been recognized for its workplace culture and environmental leadership [5]

The biotech industry can be volatile even for relatively large companies. Amgen (AMGN 1.00%), one of the more prominent names in the game, just reminded us all of that fact. On Nov. 26, the company's shares dropped by as much as 12%. Unsurprisingly, the dip was due to clinical results the market filed under "not good enough." However, if Amgen can bounce back, now might be an excellent time for investors to scoop up its shares. Let's find out what the future holds for Amgen after its massive one-day drop. A ...

The market didn't appreciate Amgen's (AMGN 1.00%) latest clinical data update, with the biopharma's shares falling more than 12% at one point on Nov. 26 from the previous day's close, though they recovered to close just 4.7% down for the day. And, with shares of certain direct competitors, such as Eli Lilly (LLY 0.91%), rising, the prevailing assumption seems to be that one company's stumble is another's gain. But is the market's reaction appropriate, or is this a good opportunity to buy the dip? Let's take ...