Amgen Inc. (NASDAQ: AMGN) is a biotechnology business focused on assisting people with serious illnesses. The company creates, manufactures, and sells a wide range of human treatments. It has grown into one of the world's most successful independent biotechnology companies, reaching millions of patients globally and developing a pipeline of potentially game-changing drugs. Its most well-known medications are ENBREL, Prolia, Otezla, XGEVA, Neulasta, Aranesp, Repatha, and KYPROLIS.
Why Should Investors Book Profit?
Valuation Methodology: Price/Earnings Per Share Multiple Based Relative Valuations
(Analysis by Kalkine Group)
* % Premium/(Discount) is based on our assessment of the company's FY1 trading multiple after considering its key growth drivers, economic moat, stock's historical trading multiples versus peer average/median, and investment risks.
AMGN's share price has inclined 19.74% in the past six months and is currently leaning towards the higher band of the 52-week range of USD 198.64 to USD 261. We have valued the stock using the Price/Earnings-based relative valuation methodology and arrived at a target price of USD 220.88.
Considering the company's long cash cycle, weak liquidity profile, current valuation, and associated risks. We recommend a "Sell" rating on the stock at the current price of USD 254.65, up 1.03% as of April 11, 2022, at 09:01 AM PDT.
1-Year Technical Price Chart (as of April 11, 2022, at 09:01 AM PDT). Source: REFINITIV, Analysis by Kalkine Group
* The reference data in this report has been partly sourced from REFINITIV.
* All forecasted figures and industry information have been taken from REFINITIV.