Amgen Inc. (NASDAQ:AMGN ) Wells Fargo 2024 Healthcare Conference Call September 5, 2024 9:30 AM ET Company Participants Justin Claeys - Vice President of Investor Relations Jay Bradner - Executive Vice President, Research and Development & Chief Scientific Officer Peter Griffith - Executive Vice President & Chief Financial Officer Conference Call Participants Mohit Bansal - Wells Fargo Mohit Bansal Great. Thank you very much for the third session of the day.
Amgen (AMGN) reported earnings 30 days ago. What's next for the stock?
AMGN's reasonable valuation, an interesting pipeline and continued top-line growth are good enough reasons to stay invested for now.
In the closing of the recent trading day, Amgen (AMGN) stood at $330.64, denoting a +0.04% change from the preceding trading day.
Amgen Inc. (NASDAQ:AMGN ) Morgan Stanley 22nd Annual Global Healthcare Conference September 4, 2024 9:15 AM ET Company Participants Bob Bradway - Chairman and Chief Executive Officer Conference Call Participants Terence Flynn - Morgan Stanley Operator Terence Flynn Great. For important disclosures, please see the Morgan Stanley research disclosure website at www.morganstanley.com/researchdisclosures.
Amgen will test its obesity drug candidate in patients at risk of obesity-related conditions such as heart, liver and kidney diseases in its late-stage trial, the company's CEO Robert Bradway said at a Morgan Stanley healthcare conference on Wednesday.
From obesity to cancer, investors will do well to watch these 6 clinical trials.
Amgen's stock is fairly valued at 16.6x next year's earnings, supported by robust existing revenue growth and a diversified portfolio. The company's new products, such as Blincyto, Tezspire, and Tepezza, are driving significant revenue growth, validating recent share price appreciation. MariTide, AMGN's GLP-1 candidate, offers potential upside due to its long-lasting effects and less frequent dosing, potentially addressing current market shortages.
On August 6, Amgen released financial results for the second quarter of 2024, which pleasantly shocked me thanks to strong sales of its oncology and rheumatology franchises. So, Evenity sales reached $391 million for the three months ended June 30, 2024, increasing by 39.1% year-on-year. While sales of an equally important medication, namely Krystexxa, amounted to $294 million in the second quarter of 2024, an increase of 25.1% quarter-on-quarter.
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 generated 20% revenue growth in its most recent quarter. The business has several fast-growing drugs showing double-digit growth despite generating over $200 million in quarterly sales.
Amgen (AMGN) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.