Technical Analysis
Based on the technical indicators and recent price action, AMGN shows a consolidation pattern. The stock has been receiving positive momentum from recent clinical trial results.
News Impact Recent positive developments for AMGN include:
Price Prediction for Next Week Based on technical analysis and positive news sentiment:
Trading Recommendation BUY with the following parameters:
The positive clinical trial results and strong fundamental ratings provide upward momentum, while technical indicators suggest a potential breakout from current consolidation. The stock shows favorable risk-reward ratio for a long position with defined support levels.
The price of AMGN is predicted to go up 3.85%, based on the high correlation periods with BRO. The similarity of these two price pattern on the periods is 97.03%.
AMGN
BRO
Year
AMGN Price Forecast($)
Potential Return(%)
2025
260.500
-0.280
2026
350.000
13.610
2027
380.000
23.350
2028
400.000
29.840
2029
400.000
29.840
2030
450.000
46.080
Amgen's pipeline had been stale since the launch of Prolia/Xgeva, but cholesterol drug Repatha and migraine drug Aimovig revived our enthusiasm for the firm's research engine, and Blincyto and Tezspire also look differentiated.
The acquisition of Decode gave Amgen the ability to identify potential new drug targets, validated by human genetics, and the firm continues to build on this database.
Amgen's improved manufacturing efficiency not only will benefit gross margins but also could give the firm a cost advantage in the biosimilar market.
Piper Sandler
2025-02-10
Price Target
$310 → $329
Upside
+11.96%
Truist Securities
2025-01-08
Price Target
$333 → $298
Upside
+13.35%
Piper Sandler
2025-01-02
Price Target
$344 → $310
Upside
+19.55%