Amgen Inc.(AMGN) has remained the talk of the biotech world with consistent updates about its financial performance and expansion strategies. Despite broader market dips, Amgen's stock recorded a new 1-year high at $337.01. Intech Investment Management LLC and Councilmark Asset Management LLC grew their holdings in the company, and Deutsche Bank and Jefferies reiterated their Hold and Buy ratings for Amgen respectively.
Most notably, investors are keen on Amgen's
obesity injection which is driving the stock to higher levels. The progress on this
experimental obesity drug has taken centerstage even in the company's Q1 2024 earning report. The company has also seen success in their drugs
Uplizna and
Blincyto meeting study goals for rare diseases and receiving FDA approval for consolidation treatment.
The company seems committed to innovation with it announcing executive appointments to accelerate it and opening a
state-of-the-art biomanufacturing site in central Ohio. Yet, there are market concerns regarding some of the company’s clinical data.
Amgen's
Bottom Line seems to be on an upward trajectory given their strategic moves and the success of their drug portfolio.
Amgen AMGN News Analytics from Thu, 09 Nov 2023 06:15:22 GMT to Sun, 21 Jul 2024 18:41:03 GMT -
Rating 8
- Innovation 5
- Information 7
- Rumor -2
