|Bid||239.25 x 800|
|Ask||244.00 x 800|
|Day's Range||239.27 - 242.14|
|52 Week Range||166.30 - 244.99|
|Beta (5Y Monthly)||1.12|
|PE Ratio (TTM)||18.57|
|Earnings Date||Jan 29, 2020|
|Forward Dividend & Yield||6.40 (2.65%)|
|Ex-Dividend Date||Feb 11, 2020|
|1y Target Est||236.87|
The biotechnology company Amgen (AMGN) -- my more speculative favorite for 2020 -- sells several different medical treatments, notes growth stock specialist Mike Larson, editor of Safe Money Report.
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Amgen Inc. New York, January 14, 2020 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Amgen Inc. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
Biogen (BIIB) signs deals with Pfizer to acquire rights to a CNS candidate and develop it as potential therapy to treat certain symptoms/disorders related to Alzheimer's disease and Parkinson's disease.
The following is a roundup of top developments in the biotech space over the last 24 hours: Scaling The Peaks (Biotech stocks that hit 52-week highs on Jan. 13.) Arvinas Inc (NASDAQ: ARVN ) Baxter International ...
Amgen (NASDAQ: AMGN) today announced strategic collaborations with leading diagnostic companies Guardant Health, Inc. and QIAGEN N.V. to develop blood- and tissue-based companion diagnostics (CDx), respectively, for investigational cancer treatment AMG 510. AMG 510 is the first KRASG12C inhibitor to advance to the clinic for investigation in treatment of multiple tumor types. KRAS G12C is one of the most frequently mutated oncogenes in human cancers. The agreements with both companies will initially focus on CDx tests for non-small cell lung cancer (NSCLC) but allow for further development of the diagnostic tests for Amgen's other oncology clinical development programs.
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Amgen (NASDAQ:AMGN) will present at the 38th Annual J.P. Morgan Healthcare Conference at 8:30 a.m. PT on Tuesday, Jan. 14, 2020, in San Francisco. Robert A. Bradway, chairman and chief executive officer at Amgen, will present at the conference. Live audio of the presentation can be accessed from the Events Calendar on Amgen's website, www.amgen.com, under Investors. A replay of the webcast will also be available on Amgen's website for at least 90 days following the event.
Apellis Pharmaceuticals' (APLS) experimental drug pegcetacoplan outperformed Alexion's blockbuster medicine, Soliris, in a phase III head-to-head study. Shares soar.
Amgen (NASDAQ:AMGN) will present via video conference at the Goldman Sachs 12th Annual Healthcare CEOs Unscripted Conference at 1 p.m. PT on Thursday, Jan. 9, 2020. Robert A. Bradway, chairman and chief executive officer at Amgen, and Peter H. Griffith, executive vice president and chief financial officer at Amgen, will present. Live audio of the presentation can be accessed from the Events Calendar on Amgen's website, www.amgen.com, under Investors. A replay of the webcast will also be available on Amgen's website for at least 90 days following the event.
Boston biotech giant Alexion Pharmaceuticals Inc. has new reason to fear for the future of its blockbuster drug Soliris after a small local biotech showed its drug is more effective in treating a rare blood disorder in a head-to-head trial.
Merck's (MRK) phase III first-line SCLC study fails to meet one of the two primary endpoints. It signs an oncology collaboration with Taiho Pharmaceutical and Astex Pharmaceuticals.
Shares of Amgen are on an upswing after the company won a patent battle over its drug Enbrel against Novartis subsidiary Sandoz. Is it time to buy shares of the massive biotech company?
Amgen (AMGN) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
A small Cambridge biotech is getting a much-needed infusion of cash, signing what its CEO called a “transformative” collaboration deal with Chinese drugmaker BeiGene Ltd.
BeiGene, Ltd. (NASDAQ: BGNE; HKEX: 06160), a commercial-stage biopharmaceutical company focused on developing and commercializing innovative molecularly-targeted and immuno-oncology drugs for the treatment of cancer, today announced that, following approval by its shareholders and satisfaction of other closing conditions, the global strategic oncology collaboration with Amgen (AMGN), previously announced on October 31, 2019, has become effective and Amgen has completed its purchase of an approximately 20.5% equity stake in BeiGene. Under the terms of the collaboration, BeiGene will assume responsibility for the commercialization and development in China of Amgen’s three oncology medicines, XGEVA® (denosumab), KYPROLIS® (carfilzomib), and BLINCYTO® (blinatumomab) that have been approved or filed in China.
Amgen (NASDAQ: AMGN) today announced the successful closing of the transaction to enter into a strategic collaboration with BeiGene that will significantly accelerate Amgen's plans to expand its oncology presence in China, the world's second-largest pharmaceutical market. BeiGene is a commercial-stage research-based oncology company with an established and highly experienced team in China, including an approximately 900-person commercial organization and an approximately 600-person clinical development organization.
Amgen (AMGN) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank 2 (Buy).
Since announcing the U.S. Food and Drug Administration approved its heart drug Vascepa, Amarin (NASDAQ:AMRN) has been a subject of fascination at InvestorPlace.Source: Pavel Kapysh / Shutterstock.com Should you take profits? Will the stock keep powering higher? Risks are down, but how much reward is there? Should you buy now despite the short-term choppiness?Speculation is rampant because Amarin has all the financial stability of a good pot stock. We're talking about a market capitalization of $7.6 billion on estimated 2019 sales of $363 million. Amarin doesn't make a profit, and its cash flow depends on issuing more stock.InvestorPlace - Stock Market News, Stock Advice & Trading TipsIt's enough to give a nervous investor a heart palpitation. Especially this one. New IndicationsVascepa makes me nervous because I may be a candidate for it.I've taken statins -- cholesterol-lowering drugs -- for 20 years. Side effects, specifically muscle weakness, recently caused my doctor to suggest a vacation from them. * 7 'A'-Rated Stocks to Buy Under $10 We'll talk next week, but Vascepa may be his answer. As InvestorPlace's Chris Markoch notes, Vascepa may now market itself as "an add-on drug to maximally tolerated statin therapy," with the "potential to reduce the risk of cardiovascular events." Until now, it was only seen as able to reduce highly elevated triglyceride levels. Mine are still a little high, even with generic Lipitor.But Vascepa is not cheap. Drugs.Com notes a cash price of $380 for a two-month supply. The cost with insurance depends on your planI can't tell you how many other boomers are nearly exhausted with statin therapy. I can't even tell you if I'm in that situation. Maybe we can change to another statin. There are several, all generic. My family has a history of high cholesterol, and my dad had a heart attack at 47. I turn 65 next month and I'm still waiting for my first one. (Knock on wood).It's these kinds of calculations that have analysts putting a price of $20 billion on Amarin, with Pfizer (NYSE:PFE), Amgen (NASDAQ:AMGN) and Gilead Sciences (NASDAQ:GILD) all in the frame. Gilead may also see it as a partial solution for fatty liver disease, a condition called nonalcoholic steatohepatitis (NASH). The Bear SideVascepa, which is derived from fish oil, cut the risks of heart attack by 25% in the recent REDUCE-IT trial, which caused the FDA to act.But Vascepa isn't the only potential solution. AstraZeneca (NYSE:AZN) will announce results on a similar drug called Epanova in 2020. Acasti Pharma (NASDAQ:ACST) will deliver results on its CaPre soon, based on a study called Trilogy 2. Matinas BioPharma Holdings (NYSEAMERICAN:MTNB) will release a study matching its MAT9001 against Vascepa later in the year.Amgen also has a drug that operates in a different way, inhibiting the action of the PCSK9 gene. This drug is called Repatha. Sanofi (NASDAQ:SNY) and Regeneron (NASDAQ:REGN) have a similar compound called Praluent.This means that, despite being approved for use in Europe as well as the United States, and clearing out fishy competitors through litigation, maximizing profit may not just mean hiking prices. Competition could cut Amarin's value. The Bottom Line on Amarin StockObviously, my next doctor's appointment will be an interesting one, but what about your investment in Amarin stock?For Amarin, everything depends on estimating the market value of Vascepa. Sales for 2020 are estimated at $700 million. Some are estimating peak sales of $10 billion.Drug companies are like old-fashioned oil companies, spending big in hopes of a gusher. But, again like oil companies, the value of such gushers may be reduced by market competition.That's what I suspect will happen here. Heart disease is a common affliction, which makes Vascepa's future look rosy. Amarin stock is a good speculation, but only with money you can afford to lose.Dana Blankenhorn is a financial and technology journalist. His latest book is Technology's Big Bang: Yesterday, Today and Tomorrow with Moore's Law, essays on technology available at the Amazon Kindle store. Write him at firstname.lastname@example.org or follow him on Twitter at @danablankenhorn. As of this writing he owned shares in REGN. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 'A'-Rated Stocks to Buy Under $10 * 7 High-Yield Dividend Stocks for Growth and Income in the 2020s * 7 Tech Stocks to Buy As the Trade War Ends The post Vascepa's Future Looks Rosy, But It Could Still Be Fishy for Amarin Stock appeared first on InvestorPlace.
The FDA recently gave Amarin (NASDAQ:AMRN) stock owners great news. The company's primary drug, Vascepa, used to have FDA approval for use only in adults with extremely elevated triglyceride levels.Source: Pavel Kapysh / Shutterstock.com Now the FDA has granted the company permission to market the drug to a much larger group of adults with high triglyceride levels with the aim of reducing harm from heart disease. This may have been a bit of a surprise; clinical data had appeared mixed and some analysts weren't sure the FDA would give it the green light.The AMRN stock price spiked to $26 on the news, hitting its highest stock price since 2007. However, Amarin stock quickly fell back below the long-running technical resistance at $24 and further slumped to $21 in recent days. Why have people been so quick to dump Amarin on the seemingly positive news?InvestorPlace - Stock Market News, Stock Advice & Trading Tips Growing Revenues but Profits Haven't Picked UpInterestingly, since 2014, Amarin has run an operating loss of between $45 million and $110 million each and every year. Over that same span, Amarin managed to grow revenues from $54 million to $364 million. Despite the seven-fold increase in revenues, it made essentially no impact to the bottom line. * 6 Transportation Stocks That Are Going Places What went wrong? The company's sales, general, and administrative costs quadrupled over the same span, rising from less than $80 million in 2014 to more than $300 million now. It's not hard to see that if your revenues are $364 million, spending more than $300 million on overhead is not going to leave you with a very economical business. Once you pay other costs, such as research and development and interest expenses, you end up running more red ink.In theory, with the new FDA marketing approval, Amarin will be able to ramp up Vascepa to a blockbuster drug and finally start bringing in serious profits. But the market seems unconvinced. And that's with good reason. The company is already pulling more than $350 million a year in revenues and still loses money. It's not exactly in start-up mode anymore. Amarin Stock ChallengesOur Chris Markoch recently argued that Amarin might need a buyout. As he notes, Amarin has had challenges as it has grown, and the recent FDA decision may exacerbate these. From manufacturing to marketing to doctors and on through protecting the company's intellectual property, Amarin faces some real obstacles.The intellectual property argument is an interesting one in particular. For one, Amarin is selling what is effectively a pharmaceutical grade version of fish oil, which has been available over the counter for many years. Amarin needs to figure out how to keep out generics and rivals that would try to commercialize slightly different products. At the same time, it needs to convince doctors and patients to pay up for Vascepa rather than buying the widely available OTC products. What a Buyout Looks LikeAnalysts have flamed the buyout rumors in recent weeks. FiercePharma, for example, suggested that Amarin could sell itself for as much as $20 billion, which would be a nearly 150% premium from its recent stock price. Pfizer (NYSE:PFE) and Amgen (NASDAQ:AMGN) may be potential suitors.Some folks have expressed skepticism that a major pharma company would pay that sort of money for a one-drug company whose intellectual property isn't necessarily rock solid. It'd be one thing to take a large write-off on a pioneering cancer drug that didn't pan out. Losing billions on a fish oil product that didn't deliver the goods would be significantly harder to explain to shareholders. Amarin's Bottom LineI personally tend to avoid these sorts of stocks. A large part of the potential bullish case here is that someone acquires Amarin outright. And more power to shareholders if it happens. But the market capitalization is already $8 billion up here, the potential reward is already well-priced into the stock.And it's risky to pin your bull thesis on the possibility of someone acquiring your company. Generally, bad things tend to happen if a company can't make it as an independent entity. And so far, despite massive revenue growth in recent years, Amarin has shown little ability to ramp up its bottom-line results.Amarin has an interesting product, and I think bears betting against the company are taking a huge risk. But until the company can turn more of its revenues into bottom line results, it's hard to get fully onboard with Amarin stock either.At the time of this writing, Ian Bezek held no positions in any of the aforementioned securities. You can reach him on Twitter at @irbezek. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 6 Transportation Stocks That Are Going Places * 5 Bold Stock Market Predictions for 2020 * 3 Beer Stocks to Own Heading Into New Year 2020 The post Here's Why Amarin Stock Slumped Despite the FDA Approval appeared first on InvestorPlace.
Do you have big questions about what to expect in the new year? Or are you a loyal Twitter (NYSE:TWTR) follower of Matt McCall? Either way, he's got you covered in this episode of "Moneyline." He's here to wish you "happy holidays" and answer the top questions about 2020's major themes.Source: InvestorPlace Cannabis stocks have been a hot topic in 2019. After soaring to reach new highs in the beginning of the year, the big names have all tanked. Aurora Cannabis (NYSE:ACB), Canopy Growth (NYSE:CGC) and Cronos (NASDAQ:CRON) are all sporting year-to-date losses of more than 30%. Many investors fear that 2020 will bring trouble for companies in "cash crunches." But McCall isn't too worried about what he sees as the solid names in the business.For investors looking to get in at good valuations, he's recommending U.S. pot stocks that trade at much lower price-to-sales ratios than their Canadian peers. This next year might just bring U.S. legalization at the federal level and send cannabis stocks blazing.InvestorPlace - Stock Market News, Stock Advice & Trading TipsWant to learn more about other high-risk, high-reward investments? McCall next dives into bitcoin and other cryptocurrency plays. After looking at historical trends, he concludes that 2020 will be a big year for bitcoin. It could hit $50,000 or even $100,000 in the next few years. But perhaps more exciting are alternative coins. These alt-coins are ready for huge growth, but be careful. Don't put all your retirement money in these cryptocurrencies. McCall's PodcastMcCall's listeners have him hopping across the world for 2020's next major themes. After cannabis and crypto, it's time for Chinese stocks. Boy, that's an alliterative mouthful. You might remember that he recently traveled to China to do research, and he's still confident about the upside potential there. He's bullish on a peer-to-peer lending company and some biotech names. * 7 Stocks to Buy to Get 2020 Started the Right Way It wasn't until 2018 that Hong Kong's stock exchange allowed pre-revenue biotech companies to list. But now, it seems likely that a few of these names will parallel the likes of Amgen (NASDAQ:AMGN). It's likely McCall will be making a return trip to China in 2020, so keep your eyes peeled for more updates. With a trade deal resolution hopefully right around the corner, there's a lot to like in terms of Chinese stocks.For more on McCall's 2020 predictions, solar stocks and wind stocks, tune into "Moneyline." You'll get an update about his holiday travel plans and more on an upcoming IPO product, too.Matthew McCall left Wall Street to actually help investors -- by getting them into the world's biggest, most revolutionary trends BEFORE anyone else. The power of being "first" gave Matt's readers the chance to bank +2,438% in Stamps.com (STMP), +1,523% in Ulta Beauty (ULTA) and +1,044% in Tesla (TSLA), just to name a few. Click here to see what Matt has up his sleeve now. Matt does not directly own the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Stocks to Buy to Get 2020 Started the Right Way * 10 Best ETFs for 2020: The Competition Is Stacked Full of Potential * 4 Gold Stocks to Buy as the Yellow Metal Surges The post U.S. Cannabis Stocks Will Make Cheap, Smart Buys in 2020 appeared first on InvestorPlace.