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

What is Amgen Inc.?

Amgen (NASDAQ: AMGN) is a biotechnology company recognized for its innovative therapies in areas such as oncology, cardiovascular disease, and bone health. The stock witnessed a significant bearish movement today.

Why is Amgen Inc. going down?

AMGN stock is down 5.2% on Nov 15, 2024 16:26

• Concerns over the impact of Amgen's experimental weight loss injection, MariTide, on bone density appeared to have a notable effect on investor sentiment.
• Despite a surge in options trading and optimistic sentiments from well-funded investors, the safety concerns linked to MariTide outweighed the positive market sentiment.
• Comments from Jim Cramer on the stock's performance and potential advantages for competitor Eli Lilly notably contributed to the downward pressure on Amgen's shares.
• Overall, the market's response to the safety concerns surrounding MariTide eclipsed any positive developments, resulting in the decline of Amgen's stock price.

AMGN Price Chart

AMGN Technical Analysis

AMGN News

Amgen Shrugs Off Bone Density Concerns Related to Obesity Candidate

AMGN says there was no connection between the administration of MariTide and bone mineral density changes.

https://www.zacks.com/stock/news/2370660/amgen-shrugs-off-bone-density-concerns-related-to-obesity-candidate

Amgen's Options Frenzy: What You Need to Know - Amgen ( NASDAQ:AMGN )

Deep-pocketed investors have adopted a bullish approach towards Amgen AMGN, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today.

https://www.benzinga.com/insights/options/24/11/41978876/amgens-options-frenzy-what-you-need-to-know

Amgen Defends Its Investigational Monthly Weight Loss Injection After Analyst Cites MariTide's Impact on Bone Density - Amgen ( NASDAQ:AMGN )

On Tuesday, a Cantor analyst wrote that additional data from Amgen's experimental weight loss injection, MariTide, suggests a new potential safety risk tied to the drug.

https://www.benzinga.com/general/biotech/24/11/41950871/amgen-defends-its-investigational-monthly-weight-loss-injection-after-analyst-cites-maritides-imp

Jim Cramer Says Eli Lilly's 'Pathetic' Stock Performance Could Get A Breather If Amgen Has Hidden Bone Risk Data After 7% Stock Drop - Eli Lilly ( NYSE:LLY ) , Amgen ( NASDAQ:AMGN )

Amgen Inc.'s AMGN stock dropped over 7% on Tuesday following revelations about bone density loss in early trials of its experimental obesity drug MariTide, while CNBC's Jim Cramer suggested the news could benefit rival Eli Lilly And Co LLY.

https://www.benzinga.com/general/health-care/24/11/41928127/jim-cramer-says-eli-lillys-pathetic-stock-performance-could-get-a-breather-if-amgen-has-hidde

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Amgen Inc. Price History

15.10.2024 - AMGN Stock was down 5.2%

• Concerns over the impact of Amgen's experimental weight loss injection, MariTide, on bone density appeared to have a notable effect on investor sentiment.
• Despite a surge in options trading and optimistic sentiments from well-funded investors, the safety concerns linked to MariTide outweighed the positive market sentiment.
• Comments from Jim Cramer on the stock's performance and potential advantages for competitor Eli Lilly notably contributed to the downward pressure on Amgen's shares.
• Overall, the market's response to the safety concerns surrounding MariTide eclipsed any positive developments, resulting in the decline of Amgen's stock price.

13.10.2024 - AMGN Stock was down 5.0%

• Amgen's stock saw a decrease of over 7% due to findings of bone density loss in early trials of its experimental obesity drug MariTide. Investors are worried about the drug's potential risks and its impact on the company's future revenue.
• There are speculations that the recent news could advantage competitor Eli Lilly And Co (NYSE: LLY) as investors may turn their attention towards companies with more promising drug pipelines.
• Contrarily, Amgen and AstraZeneca Plc (NASDAQ: AZN) unveiled positive data from the Phase 3 WAYPOINT trial of Tezspire for patients with chronic rhinosinusitis with nasal polyps, representing a potential success in other areas of the company's drug portfolio.

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.

12.10.2024 - AMGN Stock was down 5.6%

• The bearish movement in Amgen's stock today could be attributed to the positive late-stage study results of AstraZeneca and Amgen's asthma drug, Tezspire, which may have underwhelmed investors' expectations for Amgen's own pipeline.
• The strong performance of Tezspire in the Phase 3 trial for chronic rhinosinusitis with nasal polyps might have raised concerns among investors about potential competition for Amgen's existing or future respiratory disease treatments.
• Investors may be reacting to the news by selling off Amgen's stock in the short term, anticipating potential challenges or shifts in market dynamics within the respiratory disease treatment space.

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.

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.

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.