Human

Compound

Resistance

Amgen

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>AMGN stock price: The company’s share price has given a 13% return from the past year.</a> </li> 
 <li> <span>2</span> <a>The revenue is growing at an almost negligible compounded rate, see what the company’s plans are.</a> </li> 
 <li> <span>3</span> <a>The current stock price has surged 7.3% in 3 days.</a> </li> 
</ul> 
<p>Amgen, Inc. (NASDAQ: SMGN) is a biotechnology company which facilitates the discovery, development, manufacturing, and marketing of human therapeutics through its Human Therapeutics segment.</p> 
<p>Despite being a large-cap stock with a $152B market cap, Amgen is expected to have a decent growth outlook shortly as per the research reports. Although analysts predict negative top-line growth in 2023, the biotech sector is forecasted to return to positive growth in 2024.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-the-slow-growth-of-amgen-strong"><strong>The Slow Growth of Amgen</strong></h2> 
<p>According to a research report by Zacks Research, the AMGN stock price this year has outperformed the Zacks Medical – Biomedical and Genetics industry. The AMGN stock gave a return of 13% to its investors while the industry growth was a negative 17.5%. The company expects strong sales growth of products like Tezspire, Evenity, Repatha, Prolia, and Tavneos to offset lower revenues from oncology biosimilars and legacy established products such as Enbrel in future quarters.</p> 
<h3 class="wp-block-heading" id="strong-the-acquisition-strong"><strong>The Acquisition&nbsp;</strong></h3> 
<p>The revenue is growing at a negligible Compound growth rate of 1.98% over the last two years. However, the company is making moves to improve it. Amgen’s recent acquisition of Horizon Therapeutics is expected to contribute positively to the biotech’s top-bottom-line growth over the balance of the decade.&nbsp;</p> 
<p>The Federal Trade Commission is currently challenging this deal after some issues related to it. Moreover, if this acquisition falls through, Amgen’s management will pursue alternative options to further boost its pipeline and product portfolio.</p> 
<h3 class="wp-block-heading" id="strong-earning-per-share-outperforming-market-returns-strong"><strong>Earning Per Share Outperforming Market Returns</strong></h3> 
<p>The AMGN stock achieved a compounded earnings per share (EPS) growth of 35% per year in the last 5 years. This EPS growth is higher than the 6% average annual increase in the share price. Along with it, the company is giving regular dividends with a payout ratio of 54% on average.</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-and-prediction-of-the-amgn-stock-price-strong"><strong>Technical Analysis and Prediction of the AMGN Stock Price&nbsp;</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" loading="lazy" width="1600" height="764" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-409.png" alt="AMGN Stock Price: AMGN Surged Over 7% in 3 Days, What’s Next?" class="wp-image-175606" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-409.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-409-300x143.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-409-1024x489.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-409-768x367.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-409-1536x733.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-409-750x358.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-409-1140x544.png 1140w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption">
   Chart provided by<a href="https://in.tradingview.com/chart/X78t0Vyp/?symbol=NASDAQ%3AAMGN"> TradingView </a>&nbsp;(Daily time frame)
  </figcaption>
 </figure>
</div> 
<p>At the press time, AMGN <a href="https://www.thecoinrepublic.com/2023/09/13/iag-stock-price-half-yearly-reports-overwhelm-the-investors/">stock price</a> is trading at the level of $$285. The trend is bullish and the bulls are breaking continuous resistance levels. The next resistance for the investors will be at $289 while the immidiate support level is at $274.</p> 
<p>The AMGN stock price prediction will be bullish if investors and traders can keep the price above the support level of $274. However, the RSI is already in its oversold zone. Therefore, some corrections can take place.</p> 
<h5 class="wp-block-heading"><strong>Conclusion</strong></h5> 
<p>Amgen, Inc. (NASDAQ: SMGN) is experiencing slow growth in the post covid years. However, the company is making acquisitions to improve its revenue levels. The current price is trading above a support level after surging up and the prediction will be bearish because of the RSI.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p>Resistance Levels: $289</p> 
<p>Support Levels: $274, and $261</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks or related indexes comes with a risk of financial loss.</p>

AMGN Stock Price: AMGN Surged Over 7% in 3 Days, What’s Next?

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