Amgen (AMGN) closed the latest trading day at $285.92, indicating a +1.6% change from the previous session's end. This move lagged the S&P 500's daily gain of 1.81%. At the same time, the Dow added 1.56%, and the tech-heavy Nasdaq gained 2.06%.

The world's largest biotech drugmaker's shares have seen a decrease of 9.99% over the last month, surpassing the Medical sector's loss of 12.01% and falling behind the S&P 500's loss of 6.14%.

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 May 1, 2025. On that day, Amgen is projected to report earnings of $4.20 per share, which would represent year-over-year growth of 6.06%. Our most recent consensus estimate is calling for quarterly revenue of $8.02 billion, up 7.68% from the year-ago period.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $20.64 per share and revenue of $35.09 billion, indicating changes of +4.03% and +4.97%, respectively, compared to the previous year.

It is also important to note the recent changes to analyst estimates for Amgen. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research suggests that these changes in estimates have a direct relationship with upcoming 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.05% upward. Currently, Amgen is carrying a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Amgen has a Forward P/E ratio of 13.63 right now. This expresses a discount compared to the average Forward P/E of 15.47 of its industry.

One should further note that AMGN currently holds a PEG ratio of 2.34. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Medical - Biomedical and Genetics industry had an average PEG ratio of 1.22.

The Medical - Biomedical and Genetics industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 75, positioning it in the top 31% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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This article originally published on Zacks Investment Research (zacks.com).

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