Why is Amgen losing market share to biosimilars?
Amgen lacks the focus of some of its biotech peers, with drugs targeting large markets like osteoporosis and cardiology and specialty markets like immunology and oncology. Biosimilars have been on the market in Europe since 2007, but biosimilars have had a larger impact on Amgen since 2019 as U.S. exposure intensifies.
Is Amgen’s pipeline stale?
Amgen's pipeline had been stale since the launch of Prolia/Xgeva, but cholesterol drug Repatha and migraine drug Aimovig revived our enthusiasm for the firm's research engine, and Lumakras and tezepelumab also look differentiated.
Is Amgen back to breakeven for 2019?
Amgen shares have already been a subpar performer of late, currently trading where they were as of November 2019, and now back to breakeven for the year. Most of the company's prospective challenges were already baked in.
Is the market overreacting to Amgen's contracted guidance?
The market's response to contracted guidance is understandable, but perhaps unmerited. Amgen shares have already been a subpar performer of late, currently trading where they were as of November 2019, and now back to breakeven for the year. Most of the company's prospective challenges were already baked in.
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Is AMGN a buy or sell?
Amgen has received a consensus rating of Hold. The company's average rating score is 2.14, and is based on 3 buy ratings, 10 hold ratings, and 1 sell rating.
Will Amgen stock go up?
Amgen Inc (NASDAQ:AMGN) The 22 analysts offering 12-month price forecasts for Amgen Inc have a median target of 247.50, with a high estimate of 295.00 and a low estimate of 185.00.
Is Amgen a good buy?
Amgen Inc. may be undervalued. Its Value Score of B indicates it would be a good pick for value investors. The financial health and growth prospects of AMGN, demonstrate its potential to outperform the market. It currently has a Growth Score of A.
Is AMGN overvalued?
Price to Book Ratio PB vs Industry: AMGN is overvalued based on its Price-To-Book Ratio (144.8x) compared to the US Biotechs industry average (1.4x).
What drugs does Amgen make?
The company's top-selling drugs between 2017 and 2019 were Enbrel, Neulasta, Prolia, XGEVA, Aranesp, KYPROLIS, EPOGEN, and Sensipar/Mimpara. Enbrel (etanercept) is one of Amgen's top-selling products. It is used to combat severe arthritis and similar inflammatory diseases.
Is AMGN undervalued?
Amgen Inc shows a prevailing Real Value of $261.7 per share. The current price of the firm is $247.5. At this time, the firm appears to be undervalued....USD 247.50 2.73 1.12%LowEstimated ValueHigh246.19247.34248.49
Why buy Amgen stock?
Key Points. Amgen's higher volumes, net margins, and share repurchases all helped improve earnings. The company's maintenance of a relatively modest debt level is also encouraging. To boot, the stock can provide income investors with a market-beating 3.5% yield.
Should I buy AMGN Stockinvest?
Amgen Inc. finds support from accumulated volume at $238.13 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested. Our recommended stop-loss: $238.39 (-4.03%) (This stock has medium daily movements and this gives medium risk.
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By the numbers
Amgen ( AMGN 3.75% ) has taken investors on a roller coaster ride over the last 12 months. The stock has experienced multiple swings -- up and down -- of 10% or more. And now it looks like another downturn could be on the way.
NASDAQ: AMGN
Amgen reported revenue in the first quarter of $5.9 billion, a 4% year-over-year decline. This result fell short of the average analysts' revenue estimate of $6.25 billion.
Behind the numbers
The company announced net income for the quarter of $1.6 billion, or $2.83 per share, based on generally accepted accounting principles ( GAAP ). In the prior-year period, Amgen generated GAAP earnings of $1.8 billion, or $3.07 per share.
Looking ahead
Amgen continued to feel a negative impact from the COVID-19 pandemic in the first quarter, especially in January and February. This showed up in the sales results for several of the company's drugs. Of its five top-selling products, four experienced year-over-year sales declines.
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The big biotech maintained its previous full-year 2021 revenue guidance of between $25.8 billion and $26.6 billion. It also left its adjusted earnings outlook unchanged at $16 to $17 per share. However, Amgen lowered its full-year GAAP earnings guidance.
What drug did Amgen buy?
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Did Amgen buy Rodeo Therapeutics?
Otezla, which is an autoimmune disease drug that Amgen bought to help grease the wheels for the Bristol Myers Squibb acquisition of Celgene last year. Otezla saw sales drop about 1 percent, but that was mainly because of rebates.
Investors worried about a slowdown in revenue as biosimilars are rivals to older drugs
Amgen has already announced a couple of acquisitions this year. It completed the acquisition of Five Prime Therapeutics, it also announced that it's buying a small biotech, Rodeo Therapeutics. Brian, my guess, my prediction, anyway, is that we're going to see Amgen use a good bit more of its cash to make more deals.
What happened
Adria Cimino grew up with her nose in a book and a love of storytelling. By a twist of fate, she started her career writing about biotech in Boston and discovered that each company is the source of many fascinating stories.
So what
Shares of Amgen ( NASDAQ:AMGN) fell 10.4% in January, according to data provided by S&P Global Market Intelligence, after the stock rose 24% last year and reached an all-time high in December.
Now what
Biotechs such as Amgen that have been around for years and have stellar revenue and profit thanks to blockbuster drugs are seeing many of those older drugs come off patent. That opens the door to competition, which weighs on profits from the original drug.
