Amgen Inc. ($AMGN) Stock Forecast: Down 5.2% Today

What is Amgen Inc.?

Amgen Inc. (NASDAQ: AMGN) operates as a biotechnology company specializing in innovative therapies across various medical sectors. Recently, the stock witnessed a substantial downward trend in the market.

Why is Amgen Inc. going down?

AMGN stock is down 5.2% on Sep 25, 2024 17:40

• Positive Phase 3 trial results of rocatinlimab in atopic dermatitis by Amgen were overshadowed by concerns from analysts regarding market competition, impacting investor sentiment negatively.
• A federal judge's decision to reject Regeneron Pharmaceuticals' attempt to block the sale of Amgen's Eylea biosimilar potentially hints at future competition for Amgen, contributing to the bearish movement.
• Investors with significant funds showed confidence in Amgen's long-term potential through a bullish approach on the company's options, despite the day's market decline.
• The convergence of encouraging trial findings, competitive apprehensions, and legal outcomes likely triggered the bearish trend observed in Amgen's stock today.

AMGN Price Chart

AMGN Technical Analysis

AMGN News

Amgen's Rocatinlimab Has Commercial Potential Despite Competitive Landscape, Says Goldman Sachs - Amgen ( NASDAQ:AMGN )

In an investor update on Tuesday, Amgen Inc AMGN released data from Phase 3 trials of rocatinlimab and Uplizna ( inebilizumab ) . HORIZON Phase 3 trial evaluated rocatinlimab for atopic dermatitis ( eczema ) in 726 patients.

https://www.benzinga.com/analyst-ratings/analyst-color/24/09/41031132/amgens-rocatinlimab-has-commercial-potential-despite-competitive-landscape-says-gol

Amgen's Rocatinlimab Data Beats Placebo In Atopic Dermatitis Trial, But Analyst Says Data Raises Concerns Amid Competitive Market - Amgen ( NASDAQ:AMGN )

In an investor update on Tuesday, Amgen Inc AMGN released data from Phase 3 trials of rocatinlimab and Uplizna ( inebilizumab ) . HORIZON Phase 3 trial evaluated rocatinlimab for atopic dermatitis ( eczema ) in 726 patients.

https://www.benzinga.com/analyst-ratings/analyst-color/24/09/41022603/amgens-rocatinlimab-data-beats-placebo-in-atopic-dermatitis-trial-but-analyst-says-

Why Is Regeneron Pharmaceuticals Stock Trading Lower On Tuesday? - Regeneron Pharmaceuticals ( NASDAQ:REGN ) , Amgen ( NASDAQ:AMGN )

Chief District Judge Thomas Kleeh denied Regeneron Pharmaceuticals, Inc.'s REGN effort to prevent the sale of Amgen Inc's AMGN Eylea biosimilar. Regeneron filed a notice of its appeal to the U.S. Court of Appeals for the Federal Circuit.

https://www.benzinga.com/general/biotech/24/09/41012464/why-is-regeneron-pharmaceuticals-stock-trading-lower-on-tuesday

Market Whales and Their Recent Bets on AMGN Options - Amgen ( NASDAQ:AMGN )

Investors with a lot of money to spend have taken a bullish stance on Amgen AMGN. We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga. Whether these are institutions or just wealthy individuals, we don't know.

https://www.benzinga.com/insights/options/24/09/41012047/market-whales-and-their-recent-bets-on-amgn-options

Regeneron Stock Down on Court Ruling for Amgen's Biosimilar of Eylea

A federal judge rejected Regeneron's request for a preliminary injunction against Amgen in its lawsuit for Eylea's biosimilar.

https://www.zacks.com/stock/news/2340793/regeneron-stock-down-on-court-ruling-for-amgens-biosimilar-of-eylea

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Amgen Inc. Price History

25.08.2024 - AMGN Stock was down 5.2%

• Amgen's stock had a bearish movement today, possibly influenced by the competitive concerns raised by the data from the Phase 3 trials of rocatinlimab for atopic dermatitis.
• The denial of Regeneron Pharmaceuticals' effort to prevent the sale of Amgen's Eylea biosimilar might have added pressure on Amgen's stock, impacting investor sentiment.
• The bullish stance taken by investors with significant capital on Amgen's options could indicate a positive outlook for the company in the long term, despite the current bearish trend.
• Overall, the market reaction to recent developments and the competitive landscape in the biopharmaceutical sector likely contributed to Amgen's stock decline today.

25.08.2024 - AMGN Stock was down 5.2%

• Positive Phase 3 trial results of rocatinlimab in atopic dermatitis by Amgen were overshadowed by concerns from analysts regarding market competition, impacting investor sentiment negatively.
• A federal judge's decision to reject Regeneron Pharmaceuticals' attempt to block the sale of Amgen's Eylea biosimilar potentially hints at future competition for Amgen, contributing to the bearish movement.
• Investors with significant funds showed confidence in Amgen's long-term potential through a bullish approach on the company's options, despite the day's market decline.
• The convergence of encouraging trial findings, competitive apprehensions, and legal outcomes likely triggered the bearish trend observed in Amgen's stock today.

08.01.2024 - AMGN Stock was down 6.3%

• Amgen stock experienced its worst day in over 2-1/2 years, with a significant bearish movement.
• Analysts are debating the weight loss prospects of Amgen, which could be a factor contributing to the stock's decline.
• The stock traded at a lower price compared to the previous day, indicating a downward trend.
• Despite reporting robust growth and pipeline progress in its earnings call, Amgen's stock still faced a bearish market movement.

08.01.2024 - AMGN Stock was down 6.3%

• The price target for AMGN was increased by analysts at Royal Bank of Canada, indicating positive sentiment towards the stock. However, this did not prevent the bearish movement.
• Analysts are debating the weight loss prospects of Amgen, which could be a factor contributing to the negative market movement.
• AMGN traded at a lower price compared to its previous day's close, suggesting a decline in investor confidence.
• The company's fourth-quarter adjusted net profit beat expectations, but higher operating expenses may have influenced the bearish market movement.

07.01.2024 - AMGN Stock was down 5.2%

• Amgen reported strong fourth-quarter earnings, with adjusted net profit beating expectations and total revenues increasing by 20%. This positive news should have had a bullish impact on the stock.
• However, despite the positive earnings report, Amgen's stock experienced a strong bearish movement. This could be due to profit-taking by investors who were expecting even better results or concerns about the company's future growth prospects.
• The news articles do not provide a clear reason for the bearish movement, but it is possible that other factors such as market sentiment or broader industry trends influenced the stock's decline.

03.04.2024 - AMGN Stock was up 12.6%

• Amgen's stock surged by 14% after the CEO expressed optimism about the early results from a study of the company's experimental obesity drug, MariTide.
• UBS raising Amgen's stock price target on positive MariTide comments further fueled investor confidence in the company's potential.
• The overall positive sentiment in the market, with Wall Street poised for upward momentum on the jobs report and Apple's strong performance, likely contributed to the bullish movement in Amgen's stock.
• The market's anticipation of potential interest rate cuts also added to the optimism, driving investors towards stocks like Amgen that show promise in their pipeline developments.

07.01.2024 - AMGN Stock was down 6.3%

• The bearish movement in AMGN today could be attributed to a combination of factors:
• 1. Disappointing earnings: Despite beating fourth-quarter estimates for earnings and sales, there may have been concerns among investors about the company's future growth prospects. This could have led to a sell-off in the stock.
• 2. Increased operating expenses: The news article mentions that Amgen's adjusted net profit increased 15% in the fourth quarter, but higher operating expenses may have raised concerns about the company's profitability.
• 3. Overall market sentiment: The broader market for biotechnology stocks may have influenced the bearish movement in AMGN today. If there was a general negative sentiment towards the sector, it could have weighed down on the stock's performance.
• 4. Technical factors: The stock's previous close being higher than the current trading price and the downward move of -3.79% on the previous day's price could have triggered selling pressure among traders and investors.
• Overall, the bearish movement in AMGN today could be a result of a combination of company-specific factors, market sentiment, and technical factors.

03.04.2024 - AMGN Stock was up 12.9%

• Amgen's shares surged following positive updates on its GLP-1 drug and the MariTide trial outlook, leading to upgrades by William Blair and Barclays.
• The announcement of "very encouraging" clinical trial results for Amgen's new injectable weight-loss drug, MariTide, sparked investor optimism and drove the stock price higher.
• With the weight-loss drug market projected to exceed $80 billion in annual sales by 2030, Amgen's MariTide is positioned to compete with other blockbuster drugs, such as Zepbound and Wegovy, further boosting investor confidence in the company's growth prospects.
• CEO Robert Bradway's reassurance of MariTide's differentiated profile and addressing unmet medical needs, coupled with plans for upcoming trial phases, has instilled faith in the drug's potential success and contributed to the bullish movement in Amgen's stock.

07.07.2024 - AMGN Stock was down 5.0%

• Strong second-quarter sales were reported by Amgen, surpassing consensus estimates and showing a 20% year-over-year growth in sales.
• Despite the positive earnings and sales beat, the stock price fell, indicating that investors may have had higher expectations for the company.
• Concerns were raised among investors about the company's future growth prospects due to the tightening of revenue and earnings guidance for 2024.
• The mixed reaction to Amgen's earnings report and outlook suggests that while the company faces near-term challenges, its long-term growth prospects remain strong, as indicated by analysts.

02.07.2024 - AMGN Stock was down 2.2%

• Amgen's stock price might have experienced a bearish movement due to profit-taking by investors after a recent positive uptrend.
• The upcoming announcement of the second quarter financial results could have created uncertainty among investors, leading to a sell-off.
• Analyst estimates for Amgen's Q2 earnings might have fallen short of expectations, causing a negative sentiment in the market.
• Despite the bearish movement, the long-term growth prospects of Amgen and the biotechnology sector remain promising, driven by factors such as government support, regulatory advancements, and the demand for advanced therapeutics.

07.07.2024 - AMGN Stock was down 7.4%

• Amgen disclosed a mix of results in the second quarter, with earnings coming in below the expectations of analysts, resulting in a bearish market response.
• Analysts are placing emphasis on the imminent clinical updates in the areas of obesity and inflammatory disease, underscoring the pivotal role of forthcoming advancements for the company's expansion prospects.
• Despite exceeding the second-quarter predictions for earnings and sales, the stock witnessed a decline, suggesting that investors possibly sought more robust guidance or performance criteria.
• The prevailing market sentiment towards Amgen appears to be cautious due to immediate hurdles, yet analysts retain a positive outlook on the company's long-term growth possibilities.

08.07.2024 - AMGN Stock was up 5.1%

• Despite a revised guidance announcement, Amgen experienced a strong bullish trend in stock performance today, demonstrating resilience within the market.
• Investor negativity toward Amgen's options trading did not significantly impact the overall positive market sentiment toward the company.
• The second-quarter results, which displayed a mix of outcomes, brought attention to the potential of Amgen's obesity medication, potentially contributing to the stock's bullish movement.
• Eli Lilly's stock upsurge, driven by surpassing analyst expectations and raising guidance in the diabetes drug sector, likely had a favorable impact on the sentiment toward biotech firms like Amgen, contributing to the bullish trend.