Amgen (AMGN) Stock Down Ahead of Q2 Earnings Report
NEW YORK (TheStreet) -- Shares of Amgen (AMGN) - Get Report are sliding 0.28% to $165.20 this afternoon as the company prepares to report 2016 second quarter earnings on Wednesday, July 27 after the market close.
Wall Street is looking for earnings of $2.74 per share and revenue of $5.58 billion.
For the 2015 second quarter, the company reported earnings of $2.57 per share and revenue of $5.37 billion.
The company recently won a major copycat drug battle against rival Novartis (NVS) for Amgen's white blood cell-booster Neulasta for cancer patients. The FDA rejected Novartis's generic version of the drug.
Amgen is a Thousand Oaks, CA-based biotechnology company.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "buy" with a ratings score of A+.
The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, revenue growth, reasonable valuation levels and expanding profit margins. Although the company may harbor some minor weaknesses, TheStreet Ratings feels they are unlikely to have a significant impact on results.
You can view the full analysis from the report here: AMGN