RBC Upgrades Amgen, Citing Positive Catalyst Setup and Growth Drivers

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Amgen Inc ($NASDAQ:AMGN)., a biotechnology company based in Thousand Oaks, California, has recently received an upgrade from RBC due to its strong catalyst setup and growth drivers. Its portfolio ranges from cardiovascular and metabolic diseases to oncology and inflammation. RBC’s upgrade was based on its assessment of Amgen’s growth drivers, as well as its strong catalyst setup. The company is well-positioned in terms of its product innovation, which includes a number of approved and pipeline drugs that should drive revenue growth.

Additionally, Amgen’s strong financial position, with over $8 billion in cash and cash equivalents and no debt, should help support its long-term growth plans. The company has also recently entered into a few strategic collaborations with other major pharmaceutical companies. This should give Amgen access to a larger customer base, as well as potentially bring in additional revenue streams. These collaborations could be a key driver of Amgen’s growth in the near future. Overall, RBC has upgraded Amgen based on its positive catalyst setup and growth drivers. With its strong financial position and strategic collaborations, Amgen is well-positioned to capitalize on the potential growth opportunities available in the market.

Stock Price

The stock opened at $277.1 and closed at $274.0, up by 0.7% from the previous closing price of $272.1. This upgrade by RBC comes as good news for the company as it reflects a constructive outlook for Amgen’s future performance. The upgrade from RBC is indicative of the potential growth drivers of the company, which is reflected in their recommendation to buy the stock. RBC highlighted strong sales growth, improving margins, and attractive valuations as factors that make Amgen an attractive investment opportunity.

Additionally, RBC expects the company to benefit from a potential new blockbuster product approval, an increase in dividend payments, and oncology launches. Overall, the upgrade of Amgen’s stock by RBC highlights the growth potential of the company and could be an attractive investment opportunity moving forward. This could be an ideal time for investors to increase their positions in the company as the outlook for Amgen looks to be positive in the short and long term. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Amgen Inc. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Amgen Inc. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Amgen Inc. More…

Key Ratios Snapshot

Some of the financial key ratios for Amgen Inc are shown below. More…

Analysis

GoodWhale has conducted an analysis of AMGEN INC‘s wellbeing and the final result is quite encouraging. According to our Star Chart, AMGEN INC has been classified as a ‘cow’, a type of company with the track record of paying out consistent and sustainable dividends. It is strong in asset, dividend, and profitability but weak in growth. Most importantly, AMGEN INC has a high health score of 8/10 considering its cashflows and debt, meaning that it is capable of paying off debt and funding future operations. This makes AMGEN INC an interesting opportunity for investors who focus on dividend payments. Furthermore, those who are looking for companies with strong assets, profitability, and a robust financial position can also take notice of AMGEN INC. More…

Peers

The competition between Amgen Inc and its competitors is fierce. Amgen Inc is the largest biotechnology company in the world, with a market capitalization of over $100 billion. Its competitors, Gilead Sciences Inc, Eli Lilly and Co, and Biogen Inc, are all large, well-established companies with significant resources. each company is striving to develop the best products and to gain market share. The competition is intense, and each company is working hard to win.

– Gilead Sciences Inc ($NASDAQ:GILD)

Gilead Sciences Inc is a biopharmaceutical company that focuses on the discovery, development, and commercialization of drugs. The company was founded in 1987 and is headquartered in Foster City, California. Gilead Sciences Inc has a market cap of 83.2B as of 2022, a Return on Equity of 24.03%. The company’s key products include HIV/AIDS treatment, hepatitis C treatment, and oncology products. Gilead Sciences Inc also has a pipeline of products in development for various indications, including HIV, hepatitis B, non-alcoholic steatohepatitis, and respiratory syncytial virus.

– Eli Lilly and Co ($NYSE:LLY)

Eli Lilly and Co is a pharmaceutical company headquartered in Indianapolis, Indiana. The company was founded in 1876 by Colonel Eli Lilly. The company develops and markets products in the areas of diabetes, oncology, immunology, neuroscience, and other areas. Lilly has operations in more than 60 countries and sells products in more than 125 countries. Lilly has been one of the world’s leading innovators in the pharmaceutical industry, with products such as Prozac, Zyprexa, and Cialis. The company has a market cap of 316.18B as of 2022 and a Return on Equity of 45.88%.

– Biogen Inc ($NASDAQ:BIIB)

Biogen Inc. is a global biotechnology company. The company is engaged in the discovery, development, manufacturing and commercialization of therapies for the treatment of neurodegenerative diseases, hematologic conditions and autoimmune diseases. Biogen has a market cap of $39.12B as of 2022 and a return on equity of 14.98%. The company’s products include aducanumab, a monoclonal antibody for the treatment of Alzheimer’s disease; SPINRAZA, a therapeutic agent for the treatment of spinal muscular atrophy; and TYSABRI, a monoclonal antibody for the treatment of multiple sclerosis.

Summary

AMGEN Inc. is an attractive investment opportunity for investors due to its established presence and growth potential. Recently, RBC upgraded the stock with a “Buy” rating based on positive catalysts and growth drivers. The company has a strong focus on developing and delivering innovative medicines to treat serious illnesses, with a portfolio of therapies, including treatments for cancer, nephrology, cardio-renal, inflammation, bone health, and neuroscience.

Additionally, the company has a strong balance sheet with robust cash flow generation and low debt. The company is well-positioned for continued growth and is expected to benefit from its focus on research and development, increased R&D investments, and pipeline of innovative products. Furthermore, Amgen is well-positioned to capitalize on the growth opportunities in biosimilars as well as other therapeutic areas.