#8 - Amgen (NASDAQ:AMGN)
There are few slam dunks in the biotech sector, but Amgen (NASDAQ:AMGN) has been pretty close. The stock is down significantly in 2020, but Amgen is simply one of the largest companies in the biotech arena. It has a large, and historically profitable, portfolio, and pays a dividend.
The question for some investors what will Amgen do to combat declining revenue for its signature drugs. To that end, the company is expecting to receive data from various studies in 2020. This data will include results for its promising drug omecamtiv mecarbil, which is a candidate for the treatment of heart failure. According to GlobalData, this could be a $16.1 billion market by 2026.
Another strategy that is working for Amgen is its effort to form collaborations. In the last 10 years, Amgen has expanded its footprint to 100 countries including China and some emerging markets. Its most recent collaboration is with BeiGene (BGNE). The acquisition is a strategic investment in China. BeiGene has strong experience in oncology with both commercial and clinical capabilities.
About Amgen
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.
Read More - Current Price
- $294.53
- Consensus Rating
- Hold
- Ratings Breakdown
- 12 Buy Ratings, 13 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $333.57 (13.3% Upside)
Every market sell-off creates winners and losers. And this one is no different. Markets are enjoying the stimulus plans that are coming from the United States and other nations. But even this stimulus will only go so far if the coronavirus lives up to the worst-case scenarios of medical experts.
And that’s why now is a great time to look at biotech stocks. Whether you’re looking at stocks of companies that are working on vaccines or anti-virals, or whether you’re just looking to snatch up stocks of quality companies that are selling at bargain prices, you have many options in this sector.
The stimulus package coming from the U.S. government will be sending money directly to companies that are involved in the research and development for vaccines and other treatments that can help the world combat the coronavirus.
But investors have to look beyond this current crisis. Some of the companies that are racing for a coronavirus treatment don’t have anything else in their portfolio. And when it comes to biotech companies, the pipeline is very important. That’s how you get the repeatable and sustainable revenue that drives up stock prices and helps reward shareholders.
More Investing Slideshows:
