Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model

NEW YORK (

TheStreet

) --

Amgen

(Nasdaq:

AMGN

) hit a new 52-week high Friday as it is currently trading at $84.44, above its previous 52-week high of $84.39 with 1.8 million shares traded as of 1:49 p.m. ET. Average volume has been 4.8 million shares over the past 30 days.

Amgen has a market cap of $63.18 billion and is part of the

health care

sector and

drugs

industry. Shares are up 30.6% 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 17.9, above the average drugs industry P/E ratio of 17.6 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, notable return on equity, attractive valuation levels, solid stock price performance and increase in net income. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated. You can view the full

Amgen Ratings Report

.

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