A look at Amgen
Headquartered in Thousand Oaks, California, Amgen (AMGN) is a biotechnology company that discovers, develops, and delivers various products for oncology, cardiovascular, and neuroscience diseases.
Stock price performance
Amgen (AMGN) stock has risen ~5.8% in 2Q17, while it has risen ~17.4% year-to-date as of July 7, 2017.
Wall Street analysts estimate that Amgen stock has the potential to rise ~5.7% over the next 12 months. Analyst recommendations show a 12-month target price of $181.45 per share compared to the last price of $171.72 on July 6, 2017.
There are 25 analysts tracking the Amgen stock. Of those, ten analysts are recommending a “buy,” and 14 are recommending a “hold.” None of the analysts are recommending a “sell.” The consensus rating for Amgen stands at 2.4, which represents a “strong buy” for value investors.
Analysts’ revenue estimates
Amgen’s revenues are mainly driven by the operational growth of its products portfolio, partially impacted by foreign exchange.
Wall Street analyst estimates show revenues of $5.7 billion in 2Q17, a ~0.60% fall compared to 2Q16, and EPS (earnings per share) of $3.10 for the quarter.
To divest the company-specific risks, you can consider the First Trust NYSE Arca Biotechnology ETF (FBT), which holds 3.1% of its total assets in Amgen. FBT also holds 4.0% of its total assets in Myriad Genetics (MYGN), 3.8% in Regeneron Pharmaceuticals (REGN), and 3.3% in BioMarin Pharmaceutical (BMRN).