Amgen (AMGN) closed the most recent trading day at $280.30, moving -0.94% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.92%. Meanwhile, the Dow gained 0.31%, and the Nasdaq, a tech-heavy index, added 2.03%.

Shares of the world's largest biotech drugmaker have appreciated by 9.12% over the course of the past month, outperforming the Medical sector's gain of 3.83% and the S&P 500's gain of 0.81%.

The investment community will be closely monitoring the performance of Amgen in its forthcoming earnings report. The company is scheduled to release its earnings on February 4, 2025. The company's upcoming EPS is projected at $5.01, signifying a 6.37% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $8.84 billion, reflecting a 7.86% rise from the equivalent quarter last year.

Investors might also notice recent changes to analyst estimates for Amgen. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.71% higher within the past month. Amgen is currently sporting a Zacks Rank of #3 (Hold).

Investors should also note Amgen's current valuation metrics, including its Forward P/E ratio of 13.79. Its industry sports an average Forward P/E of 22.85, so one might conclude that Amgen is trading at a discount comparatively.

We can also see that AMGN currently has a PEG ratio of 2.86. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. By the end of yesterday's trading, the Medical - Biomedical and Genetics industry had an average PEG ratio of 1.39.

The Medical - Biomedical and Genetics industry is part of the Medical sector. With its current Zacks Industry Rank of 72, this industry ranks in the top 29% of all industries, numbering over 250.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

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