Amgen, Inc. (NASDAQ:AMGN) gained .11% in after hours trading yesterday. It is currently trading at 53.76, down by about 1.38% on a volume of 4,946,613 shares. Average volume seen for the stock is 7.46 M shares per day. It has a 52-week trading range of 50.32 - 64.76. It’s pretty near its pivot value and hasn’t broken the first resistance level of 54.71 as yet.
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There is generally sluggish stock valuation for the pharmaceutical stocks. The pharma stocks are less cyclical but the growth in the stock value is not noticeable despite the aging of the baby boomer population despite giving fat dividend yield, which might be indicative of the growth outlook of the pharma companies. Amgen’s Prolia is a drug , the announcement of which drove the stocks price moving up nearly 6% on double the average daily volume.
The ROIC is high for the company vis-à-vis the peers. The volatility of the stock is moderate. The stock is trading at 12 times trailing twelve months earnings and less than 10 times 2011's projected earnings, which is without the impact of Prolia Sales that can make a major impact. Although there were concerns about the side effects of some of its drugs namely Aranesp and Epogen it earned $4.6 Billion on sales of $14.6 Billion last year.
There are conservative estimates are that these drugs would make $1.4 billion annually by 2014 for Amgen and speculative estimates can go up to up to $6 billion if it achieves success combating metastatic cancer. The overall earnings are expected to grow at average annual rate of 8.2%. Biotechnology Company Amgen Inc. is scheduled to report its second-quarter results today the analyst peg the expectation at $1.30 per share on revenue of $3.74 billion in Q2 against Amgen reporting profit of $1.27 billion, or $1.25 per share, on revenue of $3.71 billion last years quarter.
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