NEW YORK (

TheStreet

) --

Amgen

(Nasdaq:

AMGN

) hit a new 52-week high Wednesday as it is currently trading at $61.97, above its previous 52-week high of $61.53 with 351,254 shares traded as of 9:40 a.m. ET. Average volume has been 8.3 million shares over the past 30 days.

Amgen has a market cap of $52.74 billion and is part of the

health care

sector and

drugs

industry. Shares are up 11.4% year to date as of the close of trading on Tuesday.

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 14.9, equal to the average drugs industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

  • Sign up for TheStreet's FREE Dividend and Income Investor Newsletter

TheStreet Ratings rates Amgen as a

buy

. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels, expanding profit margins, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full

Amgen Ratings Report

.

See all

52-week high stocks

or get investment ideas from our

investment research center

.

null