4 Reasons to Buy Amgen Stock Right Now
Major market indexes such as the S 500 declined in the first few months of the year, but have since rebounded significantly. In contrast, biotech giant (NASDAQ: AMGN) started the year strong, but has not maintained that momentum. Over the past six months, Amgen's shares have declined by 9%. The drugmaker is facing some issues, including upcoming patent cliffs.
Even so, there remain strong reasons to invest in Amgen and hold on to its shares for the long haul. Let's consider four of them.
Amgen lost patent protection for Prolia, a medicine for bone health, earlier this year. In the next few years, it will encounter other patent cliffs, including that of the cancer drug Krypolis and the immunosuppressant Otezla. The loss of exclusivity for these therapies will impact top-line growth, but as every drugmaker knows, the best way to overcome this challenge is to develop newer drugs.
Source Fool.com
Amgen Inc. Stock
The stock is one of the favorites of our community with 22 Buy predictions and 4 Sell predictions.
With a target price of 300 € there is a slightly positive potential of 17.26% for Amgen Inc. compared to the current price of 255.85 €.
