Amgen Reaches New 52-Week High (AMGN)

NEW YORK (TheStreet) -- Amgen (Nasdaq:AMGN) hit a new 52-week high Friday as it is currently trading at $81.82, above its previous 52-week high of $80.25 with 1.4 million shares traded as of 9:35 a.m. ET. Average volume has been 4.6 million shares over the past 30 days.

Amgen has a market cap of $60.63 billion and is part of the health care sector and drugs industry. Shares are up 23.5% year to date as of the close of trading on Thursday.

Amgen Inc., a biotechnology medicines company, discovers, develops, manufactures, and markets human therapeutics based on advances in cellular and molecular biology for grievous illnesses primarily in the United States, Europe, and Canada. The company has a P/E ratio of 18, equal to the average drugs industry P/E ratio and above the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Amgen as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, notable return on equity, attractive valuation levels and increase in net income. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Amgen Ratings Report.

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