Amgen Reaches New 52-Week High (AMGN)

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 Wednesday as it is currently trading at $90.39, above its previous 52-week high of $90.25 with 2.1 million shares traded as of 2:45 p.m. ET. Average volume has been 4.2 million shares over the past 30 days.

Amgen has a market cap of $68.86 billion and is part of the health care sector and drugs industry. Shares are up 39.8% 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 16.1, below 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, reasonable valuation levels and compelling growth in net income. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. You can view the full Amgen Ratings Report.

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