Amgen (AMGN) ended the recent trading session at $277.88, demonstrating a +1.62% swing from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily gain of 0.53%. Meanwhile, the Dow gained 0.93%, and the Nasdaq, a tech-heavy index, added 0.22%.

Coming into today, shares of the world's largest biotech drugmaker had gained 3.38% in the past month. In that same time, the Medical sector gained 1.49%, while the S&P 500 gained 2.69%.

Analysts and investors alike will be keeping a close eye on the performance of Amgen in its upcoming earnings disclosure. The company's earnings report is set to go public on February 4, 2025. The company's earnings per share (EPS) are projected to be $5.01, reflecting a 6.37% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $8.84 billion, indicating a 7.86% increase compared to the same quarter of the previous year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Amgen. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.43% higher within the past month. Amgen is currently a Zacks Rank #3 (Hold).

Investors should also note Amgen's current valuation metrics, including its Forward P/E ratio of 13.36. This signifies a discount in comparison to the average Forward P/E of 23.22 for its industry.

It is also worth noting that AMGN currently has a PEG ratio of 2.78. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Medical - Biomedical and Genetics industry held an average PEG ratio of 1.36.

The Medical - Biomedical and Genetics industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 74, positioning it in the top 30% of all 250+ industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Amgen Inc. (AMGN) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research