Amgen showcased
strong financial performance in Q4 2024. The company reported robust revenue growth and exceeded expectations in terms of earnings and revenues. Despite facing setbacks for its obesity drugs, its other key metrics contributed to an impressive stock price valuation that even got praised by
Jim Cramer on the potential of its blockbuster drugs.
Increased dividend announcements and positive market sentiment also supported Amgen's position. The company's SVP planned to reveal the
development strategy at a major healthcare conference.With the approval of its
colorectal cancer therapy by the FDA, the company maintained a positive outlook for the future of its cancer drugs. Despite potential EPS miss concerns, the strong financial performance and promising drug pipeline lead to their
stock purchase by various institutional investors, supporting the view that Amgen's stock is indeed undervalued. The company even outlined ambitious 2025 revenue and EPS guidance that encompass consensus estimates. Another notable decision in this period was the announcement of a $1 billion manufacturing expansion in North Carolina.
Amgen AMGN News Analytics from Thu, 05 Dec 2024 08:00:00 GMT to Sat, 08 Feb 2025 22:02:22 GMT -
Rating 8
- Innovation 6
- Information 7
- Rumor -4
