Amgen Inc.’s Stock Price Plummets to $280.01, Experiences 4.76% Decline: Time to Sell or Buy?

Amgen Inc. (AMGN)

280.01 USD -13.99 (-4.76%) Volume: 16.88M

Amgen Inc.’s stock price stands at 280.01 USD, marking a trading session decline of 4.76% with a trading volume of 16.88M. The biopharmaceutical giant’s stock has seen a year-to-date decrease of 9.73%, reflecting its current market performance.

Latest developments on Amgen Inc.

Amgen Inc has experienced significant stock price movements recently, with the company’s obesity drug MariTide making headlines for its weight loss benefits. Despite positive results from a phase 2 study showing robust weight loss in individuals with obesity or overweight, Amgen’s stock has been trading down, declining by 11.91% on Nov 26 and touching a 52-week low at $260.55. The market reaction could be attributed to the drug not meeting Wall Street’s high expectations, leading to a lack of more details causing the stock to tumble. Analysts suggest that the decline in Amgen’s stock price may also be due to competition from rivals like Novo and Lilly in the anti-obesity drug market. Despite the setbacks, Amgen continues to push forward with discussions on MariTide’s progress and development program, aiming to address the challenges and bounce back from the recent stock downturn.

Amgen Inc. on Smartkarma

Analysts at Baptista Research have been closely monitoring Amgen Inc‘s recent financial performance and pipeline advancements. In their report titled “Amgen Inc.: What Is The Recent Pipeline Development & Expected Product Launches? – Major Drivers,” they highlight Amgen’s strong position in the market, with a 23% increase in revenue to $8.5 billion in the third quarter of 2024. The company saw significant sales growth across its portfolio, particularly from 10 products showing double-digit growth. Baptista Research aims to assess various factors that could impact Amgen’s stock price in the near future and conduct an independent valuation using a Discounted Cash Flow (DCF) methodology.

In another report by Baptista Research titled “Amgen Inc.: Expansion of MariTide and Pipeline Advancement! – Major Drivers,” analysts delve into the company’s second quarter 2024 financial results, which saw a 20% year-over-year revenue increase to $8.4 billion. This growth was attributed to strong performance across multiple product lines, including medicines like Repatha, EVENITY, BLINCYTO, and TEZSPIRE in the inflammation and oncology sectors. Baptista Research continues to evaluate the factors influencing Amgen’s stock price and conduct an independent valuation using a Discounted Cash Flow (DCF) methodology to provide insights for investors.

A look at Amgen Inc. Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Amgen Inc. is looking at a promising long-term outlook, according to the Smartkarma Smart Scores. With strong scores in Dividend and Momentum, the company is showing signs of stability and growth. The company’s focus on developing medicines for serious diseases has positioned it well in the market, making it an attractive option for investors looking for consistent returns.

Although Amgen Inc. may not score as high in Value and Resilience, its overall outlook remains positive with a solid Growth score. The company’s dedication to innovation in biotechnology medicines based on cutting-edge research in biology has the potential to drive future success. Investors may want to keep an eye on Amgen Inc. as it continues to make strides in the healthcare industry.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
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