Amgen (AMGN) 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.
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