Amgen, Inc. (AMGN): Today's Most Compelling Stock Buy

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SoTM Bull's Eye Report - Today's Most Compelling Buy
Friday, May 24, 2013

At StateoftheMarkets.com, we strive to "own the best and ignore the rest" in our equity portfolios. Toward this end, each day we search our database for a "top stock" (a top rated company in terms of earnings strength as well as company and industry performance) that presents a strong technical "set up" and a good entry point.

In short, when our equity team is looking to add a stock to one of our portfolios, the "bull's eye" stock shown below is generally their first choice.



Company


Symbol


Industry

Stock
Rating

YTD
% Gain
S.T.
Stop
Loss
Amgen Inc AMGN Biotechnology 9.8 +18.49% $102.18

Why We Like The Stock:

Amgen Inc (AMGN) is our most compelling buy today due to the fact that it is a top rated stock (in terms of earnings strength and company/industry performance) with a positive technical set-up. Biotechnology has been a great performer in 2013, and we featured AMGN back on 5/9 in our Bull's Eye Report. After a couple of weeks and some price consolidation, AMGN looks just as attractive, if not more so than it did since our last feature, and is flashing a buy signal once again. The stock has been straitght up since late February before pulling back in mid-April. With recent highs of nearly $115, AMGN currently sits at $105.79 and has plenty of room to run higher. This week it crossed above all of its short- and intermediate-term moving averages, and looks poised to make a run back to its mid-April highs. If you're late to the Biotech trade, AMGN still offers a great trading opportunity in the short-term.
We Would Be Buyers:

At the current price (~$105.80).

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Company Profile:

Amgen Inc. is a global biotechnology pioneer that discovers, develops, manufactures and delivers human therapeutics. Its medicines help millions of patients in the fight against cancer, kidney disease, rheumatoid arthritis (RA), bone disease, and other serious illnesses. On December 10, 2012, the Company acquired all of the outstanding stock of deCODE Genetics (deCODE). In July 5, 2012, the Company acquired KAI Pharmaceuticals, a privately held company based in South San Francisco. In June 12, 2012, the Company acquired substantially all of the outstanding stock of Mustafa Nevzat Pharmaceuticals (MN). In March 7, 2012, the Company acquired Micromet, Inc. (Micromet), a publicly held biotechnology company focused on the discovery, development and commercialization of antibody-based therapies for the treatment of cancer.

Stock Rating:

The Stock Rating indicates the combined score of our proprietary Earning Strength and Company Performance models. The rating scale is 0 - 10 with 10 being the highest.

Disclosure:

At the time of publication the editor and affiliated companies own the following positions: None

Note: Positions may be bought or sold while this publication is in circulation without notice.

  Amgen Inc - Last 3 Months

  Amgen Inc - Last 12 Months

  Amgen Inc - Last 5 Years

 

 

The analysis and information in this report and on our website is for informational purposes only. No part of the material presented in this report or on our websites is intended as an investment recommendation or investment advice. Neither the information nor any opinion expressed nor any Portfolio constitutes a solicitation to purchase or sell securities or any investment program. The opinions and forecasts expressed are those of the editors of StateoftheMarkets.com and may not actually come to pass. The opinions and viewpoints regarding the future of the markets should not be construed as recommendations of any specific security nor specific investment advice. Stocks should always consult an investment professional before making any investment.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Investing Ideas , Stocks , US Markets

Referenced Stocks: AMGN

David Moenning


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