Amgen Inc.’s Stock Price Skyrockets to $311.29, Marking a Remarkable 11.82% Upswing

Amgen Inc. (AMGN)

311.29 USD +32.90 (+11.82%) Volume: 9.62M

Amgen Inc.’s stock price surged to $311.29, marking an impressive intraday gain of +11.82% on a high trading volume of 9.62M shares. With a year-to-date increase of +8.08%, AMGN stocks continue to demonstrate robust performance, attracting investors’ attention in the biotechnology sector.

Latest developments on Amgen Inc.

Amgen Inc‘s stock prices have been on an upward trajectory, largely driven by promising early results from its groundbreaking obesity drug. The biopharmaceutical company’s GLP-1 drug trial, which is expected to heighten competition in the obesity market, has seen Amgen’s stock soar while causing a slide in shares for rivals such as Novo Nordisk and Eli Lilly. This optimism is bolstered by Amgen’s strong Q1 2024 financial performance, with a reported 22% increase in net revenues. The company’s stock gains have also contributed significantly to the Dow’s recent rally.

Amgen Inc. on Smartkarma

Analysts at Baptista Research have been closely monitoring Amgen Inc‘s performance and recent developments. In their report titled “Amgen Inc: An Analysis Of The Pipeline Progress and Development! – Major Drivers,” they highlighted the company’s strategic moves and positive outcomes, such as the acquisition of Horizon Therapeutics and record annual sales for 18 of Amgen’s medicines. Baptista Research aims to evaluate the factors influencing the company’s price in the near future and conduct an independent valuation using a Discounted Cash Flow methodology.

In another report by Baptista Research titled “Amgen Inc.: Expansion Of Oncology Research & Other Major Drivers,” analysts noted a mixed set of results for the previous quarter, with revenues below expectations but managed earnings beat. Amgen saw significant quarterly sales for key brands and growth across various portfolios. Notably, Prolia reported a 14% year-over-year sales increase in the third quarter, driven by volume growth and higher net selling prices. The analysts continue to closely follow Amgen Inc‘s performance and provide valuable insights for investors on Smartkarma.

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‘s long-term outlook is looking promising, according to the Smartkarma Smart Scores. The company has strong scores in Dividend and Momentum, indicating a solid track record of paying dividends to shareholders and positive momentum in the market. Additionally, the Growth score suggests potential for expansion and development in the future. However, Amgen Inc‘s Value and Resilience scores are lower, indicating some room for improvement in terms of the company’s overall value and ability to withstand economic challenges.

Amgen Inc. is an independent biotechnology medicines company with a focus on developing innovative treatments for serious diseases. The company’s Smartkarma Smart Scores highlight its strengths in dividend payouts and market momentum, suggesting a positive outlook for investors. With a strong emphasis on human therapeutics and cutting-edge research in cellular and molecular biology, Amgen Inc. is well-positioned to continue making significant contributions to the healthcare industry in the long term.

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.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
Have feedback on this article? Concerned about the content? Get in touch with us directly.

💡 Before it’s here, it’s on Smartkarma