Amgen Inc. ($AMGN) Stock Forecast: Down 11.9% Today

What is Amgen Inc.?

Amgen Inc. (NASDAQ: AMGN) is a biotechnology company known for its innovative therapies in various medical fields. The stock had a significant bearish movement today.

Why is Amgen Inc. going down?

AMGN stock is down 11.9% on Nov 26, 2024 14:42

• The release of data from the Phase 2 study of MariTide showing weight loss of up to 20% in obese patients might have raised concerns about the drug's market potential, leading to a bearish sentiment.
• Despite the bullish options activity on Amgen, the overall market reaction to the obesity drug data seems to have overshadowed this positive sentiment.
• The bearish movement could also be influenced by investor uncertainty surrounding the competitive profile of other companies in the biopharmaceutical sector, as seen with Silence Therapeutics' stock decline despite positive study results.

AMGN Price Chart

AMGN Technical Analysis

AMGN News

Amgen Reveals Data From Closely Watched Monthly Obesity Drug, With Weight Loss Of Up To 20% At One Year And No Plateau - Amgen ( NASDAQ:AMGN )

On Tuesday, Amgen Inc AMGN stock fell during the premarket session after the company released long-anticipated data from the Phase 2 study of MariTide ( maridebart cafraglutide, formerly AMG 133 ) in obese patients.

https://www.benzinga.com/24/11/42189129/amgen-reveals-data-from-closely-watched-monthly-obesity-drug-with-weight-loss-of-up-to-20-at-one-year-and-no-plat

Decoding Amgen's Options Activity: What's the Big Picture? - Amgen ( NASDAQ:AMGN )

Financial giants have made a conspicuous bullish move on Amgen. Our analysis of options history for Amgen AMGN revealed 8 unusual trades. Delving into the details, we found 37% of traders were bullish, while 37% showed bearish tendencies.

https://www.benzinga.com/insights/options/24/11/42096750/decoding-amgens-options-activity-whats-the-big-picture

SLN Stock Down Despite Cholesterol Drug Lowering Lipoprotein Levels

Silence Therapeutics stock falls despite lowering lipoprotein levels in a phase II study of zerlasiran likely due to concerns regarding its competitive profile.

https://www.zacks.com/stock/news/2372893/sln-stock-down-despite-cholesterol-drug-lowering-lipoprotein-levels

Trending Today

Ethena ($ENA) Crypto Forecast: Up 22.8% Today

Chainlink ($LINK) Crypto Forecast: Down 5.0% Today

Wormhole ($W) Crypto Forecast: Up 5.9% Today

Avalanche ($AVAX) Crypto Forecast: Down 7.3% Today

Arbitrum ($ARB) Crypto Forecast: Down 5.3% Today

Shiba Inu ($SHIB) Crypto Forecast: Down 5.1% Today

Aave ($AAVE) Crypto Forecast: Down 5.3% Today

Filecoin ($FIL) Crypto Forecast: Down 5.3% Today

Litecoin ($LTC) Crypto Forecast: Down 5.5% Today

TRON ($TRX) Crypto Forecast: Down 5.0% Today

Amgen Inc. Price History

15.10.2024 - AMGN Stock was down 5.2%

• Concerns over the impact of Amgen's experimental weight loss injection, MariTide, on bone density appeared to have a notable effect on investor sentiment.
• Despite a surge in options trading and optimistic sentiments from well-funded investors, the safety concerns linked to MariTide outweighed the positive market sentiment.
• Comments from Jim Cramer on the stock's performance and potential advantages for competitor Eli Lilly notably contributed to the downward pressure on Amgen's shares.
• Overall, the market's response to the safety concerns surrounding MariTide eclipsed any positive developments, resulting in the decline of Amgen's stock price.

26.10.2024 - AMGN Stock was down 11.9%

• The release of data from the Phase 2 study of MariTide showing weight loss of up to 20% in obese patients might have raised concerns about the drug's market potential, leading to a bearish sentiment.
• Despite the bullish options activity on Amgen, the overall market reaction to the obesity drug data seems to have overshadowed this positive sentiment.
• The bearish movement could also be influenced by investor uncertainty surrounding the competitive profile of other companies in the biopharmaceutical sector, as seen with Silence Therapeutics' stock decline despite positive study results.

13.10.2024 - AMGN Stock was down 5.0%

• Amgen's stock saw a decrease of over 7% due to findings of bone density loss in early trials of its experimental obesity drug MariTide. Investors are worried about the drug's potential risks and its impact on the company's future revenue.
• There are speculations that the recent news could advantage competitor Eli Lilly And Co (NYSE: LLY) as investors may turn their attention towards companies with more promising drug pipelines.
• Contrarily, Amgen and AstraZeneca Plc (NASDAQ: AZN) unveiled positive data from the Phase 3 WAYPOINT trial of Tezspire for patients with chronic rhinosinusitis with nasal polyps, representing a potential success in other areas of the company's drug portfolio.

25.08.2024 - AMGN Stock was down 5.2%

• Amgen's stock had a bearish movement today, possibly influenced by the competitive concerns raised by the data from the Phase 3 trials of rocatinlimab for atopic dermatitis.
• The denial of Regeneron Pharmaceuticals' effort to prevent the sale of Amgen's Eylea biosimilar might have added pressure on Amgen's stock, impacting investor sentiment.
• The bullish stance taken by investors with significant capital on Amgen's options could indicate a positive outlook for the company in the long term, despite the current bearish trend.
• Overall, the market reaction to recent developments and the competitive landscape in the biopharmaceutical sector likely contributed to Amgen's stock decline today.

25.08.2024 - AMGN Stock was down 5.2%

• Positive Phase 3 trial results of rocatinlimab in atopic dermatitis by Amgen were overshadowed by concerns from analysts regarding market competition, impacting investor sentiment negatively.
• A federal judge's decision to reject Regeneron Pharmaceuticals' attempt to block the sale of Amgen's Eylea biosimilar potentially hints at future competition for Amgen, contributing to the bearish movement.
• Investors with significant funds showed confidence in Amgen's long-term potential through a bullish approach on the company's options, despite the day's market decline.
• The convergence of encouraging trial findings, competitive apprehensions, and legal outcomes likely triggered the bearish trend observed in Amgen's stock today.

12.10.2024 - AMGN Stock was down 5.6%

• The bearish movement in Amgen's stock today could be attributed to the positive late-stage study results of AstraZeneca and Amgen's asthma drug, Tezspire, which may have underwhelmed investors' expectations for Amgen's own pipeline.
• The strong performance of Tezspire in the Phase 3 trial for chronic rhinosinusitis with nasal polyps might have raised concerns among investors about potential competition for Amgen's existing or future respiratory disease treatments.
• Investors may be reacting to the news by selling off Amgen's stock in the short term, anticipating potential challenges or shifts in market dynamics within the respiratory disease treatment space.

03.04.2024 - AMGN Stock was up 12.6%

• Amgen's stock surged by 14% after the CEO expressed optimism about the early results from a study of the company's experimental obesity drug, MariTide.
• UBS raising Amgen's stock price target on positive MariTide comments further fueled investor confidence in the company's potential.
• The overall positive sentiment in the market, with Wall Street poised for upward momentum on the jobs report and Apple's strong performance, likely contributed to the bullish movement in Amgen's stock.
• The market's anticipation of potential interest rate cuts also added to the optimism, driving investors towards stocks like Amgen that show promise in their pipeline developments.

03.04.2024 - AMGN Stock was up 12.9%

• Amgen's shares surged following positive updates on its GLP-1 drug and the MariTide trial outlook, leading to upgrades by William Blair and Barclays.
• The announcement of "very encouraging" clinical trial results for Amgen's new injectable weight-loss drug, MariTide, sparked investor optimism and drove the stock price higher.
• With the weight-loss drug market projected to exceed $80 billion in annual sales by 2030, Amgen's MariTide is positioned to compete with other blockbuster drugs, such as Zepbound and Wegovy, further boosting investor confidence in the company's growth prospects.
• CEO Robert Bradway's reassurance of MariTide's differentiated profile and addressing unmet medical needs, coupled with plans for upcoming trial phases, has instilled faith in the drug's potential success and contributed to the bullish movement in Amgen's stock.

07.07.2024 - AMGN Stock was down 5.0%

• Strong second-quarter sales were reported by Amgen, surpassing consensus estimates and showing a 20% year-over-year growth in sales.
• Despite the positive earnings and sales beat, the stock price fell, indicating that investors may have had higher expectations for the company.
• Concerns were raised among investors about the company's future growth prospects due to the tightening of revenue and earnings guidance for 2024.
• The mixed reaction to Amgen's earnings report and outlook suggests that while the company faces near-term challenges, its long-term growth prospects remain strong, as indicated by analysts.

02.07.2024 - AMGN Stock was down 2.2%

• Amgen's stock price might have experienced a bearish movement due to profit-taking by investors after a recent positive uptrend.
• The upcoming announcement of the second quarter financial results could have created uncertainty among investors, leading to a sell-off.
• Analyst estimates for Amgen's Q2 earnings might have fallen short of expectations, causing a negative sentiment in the market.
• Despite the bearish movement, the long-term growth prospects of Amgen and the biotechnology sector remain promising, driven by factors such as government support, regulatory advancements, and the demand for advanced therapeutics.

07.07.2024 - AMGN Stock was down 7.4%

• Amgen disclosed a mix of results in the second quarter, with earnings coming in below the expectations of analysts, resulting in a bearish market response.
• Analysts are placing emphasis on the imminent clinical updates in the areas of obesity and inflammatory disease, underscoring the pivotal role of forthcoming advancements for the company's expansion prospects.
• Despite exceeding the second-quarter predictions for earnings and sales, the stock witnessed a decline, suggesting that investors possibly sought more robust guidance or performance criteria.
• The prevailing market sentiment towards Amgen appears to be cautious due to immediate hurdles, yet analysts retain a positive outlook on the company's long-term growth possibilities.

08.07.2024 - AMGN Stock was up 5.1%

• Despite a revised guidance announcement, Amgen experienced a strong bullish trend in stock performance today, demonstrating resilience within the market.
• Investor negativity toward Amgen's options trading did not significantly impact the overall positive market sentiment toward the company.
• The second-quarter results, which displayed a mix of outcomes, brought attention to the potential of Amgen's obesity medication, potentially contributing to the stock's bullish movement.
• Eli Lilly's stock upsurge, driven by surpassing analyst expectations and raising guidance in the diabetes drug sector, likely had a favorable impact on the sentiment toward biotech firms like Amgen, contributing to the bullish trend.