SDI Productions/E+ via Getty Images Amgen Inc. (NASDAQ:AMGN) is one of the largest biopharmaceutical companies in the world, and it has been rapidly increasing its share of the global oncology medications market in recent years. Investment thesis The day after the company released its first-quarter 2024 financial results in early May, its share price rose more than 15%. In my opinion, the growth of Amgen's investment attractiveness in recent weeks is directly related to the successful integration of Horizon ...

Amgen (AMGN) announced that the FDA has granted approval to its leukemia drug, Blincyto, for consolidation treatment, regardless of measurable residual disease (MRD) status.Blincyto, a first-in-class Bispecific T-cell Engager (BiTE) therapy, is now approved for the treatment of adult and pediatric patients one month and older with Philadelphia chromosome-negative B-cell precursor acute lymphoblastic leukemia (B-ALL) in the consolidation phase, regardless of MRD status. ALL is a fast-growing type of blood ca ...

BLINCYTO® Added to Multiphase Consolidation Chemotherapy Reduced Risk of Death by 58% Showing Superior Overall Survival Versus Chemotherapy AloneFirst and Only Bispecific T-cell Engager (BiTE®) Therapy for Consolidation Treatment Regardless of Measurable Residual Disease (MRD) StatusTHOUSAND OAKS, Calif., June 14, 2024 /PRNewswire/ -- Amgen (NASDAQ:AMGN) today announced the U.S. Food and Drug Administration (FDA) has approved BLINCYTO® (blinatumomab) for the treatment of adult and pediatric patients one mon ...

Ozempic and Wegovy (semaglutide for diabetes and weight loss, respectively) are popular weight-loss drugs that have taken the world by storm. Indeed, the craze is showing no signs of slowing down as more supply of GLP-1 receptor agonists comes online to meet blistering demand. Though demand is showing no signs of slowing, there’s already a great deal of competition going after a market that could grow to $100 billion by 2035, according to some analysts.Indeed, there’s some serious growth to be had for the c ...

Data Highlight Positive Outcomes in Uncontrolled Gout With KRYSTEXXA® and Progress in Addressing Sjögren's DiseaseTHOUSAND OAKS, Calif., June 12, 2024 /PRNewswire/ -- Amgen (NASDAQ:AMGN) today announced the presentation of data across its diverse portfolio and pipeline at the European Alliance of Associations for Rheumatology's (EULAR) 2024 Congress, June 12-15 in Vienna. The 27 abstracts from Amgen-sponsored and partner-led studies demonstrate Amgen's commitment to improving the lives of patients living wi ...

Amgen Inc. (NASDAQ:AMGN) Goldman Sachs 45th Annual Global Healthcare Conference June 10, 2024 9:20 AM ET Company Participants James E. Bradner – EVP of Research and Development & Chief Scientific Officer Peter H. Griffith – EVP & CFO Conference Call Participants Salveen Richter - Goldman Sachs Salveen Richter Great, good morning, everyone. Thank you so much for joining us. I'm Salveen Richter, Biotechnology Analyst at Goldman Sachs, and we're really pleased to have the Amgen team here with us. We have Peter ...

Core Viewpoint - Amgen's stock has underperformed compared to the broader market and the Medical sector, with upcoming earnings expected to show a decline in EPS but an increase in revenue [1][2]. Group 1: Stock Performance - Amgen closed at $305.02, reflecting a -0.22% change from the previous day, which is slightly better than the S&P 500's loss of 0.11% [1]. - Over the last month, Amgen's shares decreased by 2.29%, while the Medical sector gained 4.12% and the S&P 500 gained 3.51% [1]. Group 2: Earnings Estimates - The upcoming EPS for Amgen is projected at $4.86, indicating a 2.8% decline compared to the same quarter last year [1]. - Revenue for the upcoming quarter is estimated at $8.27 billion, representing an 18.34% increase from the prior-year quarter [1]. - For the entire fiscal year, earnings are projected at $19.47 per share and revenue at $32.98 billion, reflecting changes of +4.4% and +17.01% respectively from the prior year [1]. Group 3: Analyst Estimates and Valuation - Recent analyst estimate revisions for Amgen have shown a 0.06% increase in the Zacks Consensus EPS estimate over the past month [2]. - Amgen currently holds a Zacks Rank of 3 (Hold), indicating a neutral outlook based on analyst estimates [2]. - The Forward P/E ratio for Amgen is 15.7, which is lower than the industry average of 22.87, suggesting that Amgen is trading at a discount [3]. - Amgen's PEG ratio stands at 2.76, compared to the industry average of 2.12, indicating a higher expected earnings growth rate relative to its price [3]. - The Medical - Biomedical and Genetics industry, which includes Amgen, has a Zacks Industry Rank of 83, placing it in the top 33% of over 250 industries [3].

Amgen (AMGN) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.Over the past month, shares of this world's largest biotech drugmaker have returned -2.3%, compared to the Zacks S&P 500 composite's +3.5% change. During this period, the Zacks Medical - Biomedical and Genetics industry, which Amgen falls in, has gained 2.2%. The key question now is: What could be the stock's future direction ...

Amgen (AMGN) announced positive results from the phase III MITIGATE study, which evaluated its rare disease drug Uplizna (inebilizumab) for treating Immunoglobulin G4-related disease (IgG4-RD), a rare inflammatory condition.The MITIGATE study achieved its primary endpoint — patients treated with Uplizna over a 52-week period showed a statistically significant 87% reduction in the risk of IgG4-RD flare when compared with a placebo. The study also achieved key secondary endpoints, which include annualized fla ...

THOUSAND OAKS, Calif., June 5, 2024 /PRNewswire/ -- Amgen (NASDAQ:AMGN) will present at the Goldman Sachs 45th Annual Global Healthcare Conference at 9:20 a.m. ET on Monday, June 10, 2024. Peter Griffith, executive vice president and chief financial officer at Amgen, and Jay Bradner, executive vice president of Research and Development and chief scientific officer at Amgen, will present at the conference. The webcast will be broadcast over the internet simultaneously and will be available to members of the ...