Amgen Inc.AMGNBUY ON WEAKNESSJun 25, 2025Stock price when the opinion was issued
As of Sep 24, 2026. Market Open.
Fifteen of its approved products had double-digit revenue growth YOY in last quarter. GLP-1 entrant still not approved, yet showing promise (bit of a wild card). Now trades at 18x PE, and other companies are more competitive on PE.
Still in his portfolios, still a Buy, but every day he gets up and reviews client holdings with a critical eye.
Really likes it. Breaking out to new highs. He'd be a buyer. Next upside resistance is around the $400 level.
He's been talking to their US sales team about biotech and healthcare in general. If they're correct on the broader market call, then biotech should outperform some of the more defensive areas in healthcare into 2027.
Is working on its injectable GLP-1 drug, Maritide. The market didn't like its drug data (phase 2 clinical trials) last Monday, and sold shares hard: 20% avg. weight loss for obesity only, and 17% weight loss for obestity and diabetes. Also, Maritiude made users puke if they took high doses, though this is reduced if doses start small and then are increased. Still, the market was not impressed. Also, there exist 2 GLP-1 shots by competitors already. Thirdly, American prefer taking a pill daily (Eli Lilly) than an injection weekly (Amgen). He feels that the market misunderstood the trial results, and does not justify the stock's decline. LLY remains his favourite in GLP-1, but Amgen stock is cheap.