In the most recent trading session, Amgen (AMGN) closed at $317.48, indicating a -0.7% shift from the previous trading day.
Zacks.com users have recently been watching Amgen (AMGN) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
Amgen's strong dividend growth, with a 2.8% yield and consistent hikes since 2011, offers reliable income and a healthy payout ratio. Robust R&D pipeline in obesity, cardiovascular, and oncology, along with strong financials, positions Amgen for long-term growth and stability. Despite underperforming the S&P 500, Amgen's focus on high-growth areas and promising new drugs provides a compelling growth narrative.
Amgen (AMGN) closed at $322.67 in the latest trading session, marking a +1.12% move from the prior day.
Though Amgen reported encouraging results on two immunology drugs, Wall Street expresses skepticism as the data fell short when compared to existing treatments.
Amgen's shares fell this week despite positive phase 3 results of rocatinlimab and Uplizna. Rocatinlimab's phase 3 results were disappointing, as efficacy well short of its competitors and it also underperformed its phase 2 trial results. Uplizna showed good results in generalized myasthenia gravis, but its efficacy did not significantly differentiate from competitors, and these results were not enough to offset the rocatinlimab disappointment.
The biotech offered an update on two drugs in development, but analysts said they're not as effective as existing treatments.
In an investor update on Tuesday, Amgen Inc AMGN released data from Phase 3 trials of rocatinlimab and Uplizna (inebilizumab).
Regeneron Pharmaceuticals is a leading biotech firm with a strong portfolio, including Eylea, Dupixent, and Libtayo, and a robust investigational pipeline. Despite legal setbacks from Amgen's Eylea biosimilar, the legal battle continues, and REGN's patents protect EYLEA HD until at least 2037. Moreover, Dupixent and Libtayo remain strong growth drivers, contributing significantly to Regeneron's revenue with expanding approvals and indications.
Amgen said on Tuesday its experimental drug, rocatinlimab, met the main goals in a late stage study testing it as a treatment for a skin condition known as atopic dermatitis.
A federal judge rejected Regeneron's request for a preliminary injunction against Amgen in its lawsuit for Eylea's biosimilar.
Injections that help folks manage their appetite already generate over $45 billion in annual revenue. Total sales of weight-management drugs are expected to reach $100 billion annually by 2030.