Amgen (AMGN - Get Report) is an independent biotechnology medicines company. Amgen discovers, develops, manufactures and markets medicines for grievous illnesses. This stock is trading up 1.7% to $62.41 in recent trading after hitting a 52-week high of $62.50 earlier in the day.
Today's Range: $61.00-$62.5052-Week Range: $47.66-$61.53 Volume: 4.7 million Three-Month Average Volume: 8.3 million Amgen has a market cap of $54.71 billion and an enterprise value of $50.20 billion. This stock trades at a trailing price-to-earnings of 15.45 and a forward price-to-earnings of 10.75. Its estimated growth rate for this year is 2.1%, and for next year it's pegged at 9.2%. The current short interest as a percentage of the float for Amgen is very low at 2.5%. From a technical standpoint, AMGN broke out recently above some near-term overhead resistance of $59.43 on solid volume. Market players should now watch for AMGN to re-test its next significant overhead resistance level at $65 in the coming days or weeks, as long as the stock continues to trend above $59.43. Traders should look for long biased trades with a target of $65, as long as the volume on the up days remains near or above 8.3 million shares. Amgen is one of the highest-yielding drug stocks.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts