In the latest trading session, Amgen (AMGN) closed at $277.29, marking a -1.89% move from the previous day. This change lagged the S&P 500's 0.13% gain on the day. At the same time, the Dow lost 1.33%, and the tech-heavy Nasdaq lost 0.13%.

Shares of the world's largest biotech drugmaker have depreciated by 10.49% over the course of the past month, underperforming the Medical sector's loss of 8.46% and the S&P 500's loss of 6.3%.

Investors will be eagerly watching for the performance of Amgen in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on May 1, 2025. The company is forecasted to report an EPS of $4.14, showcasing a 4.55% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $7.94 billion, reflecting a 6.6% rise from the equivalent quarter last year.

AMGN's full-year Zacks Consensus Estimates are calling for earnings of $20.61 per share and revenue of $35.01 billion. These results would represent year-over-year changes of +3.88% and +4.75%, respectively.

It's also important for investors to be aware of any recent modifications to analyst estimates for Amgen. These revisions help to show the ever-changing nature 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.12% lower. Amgen is holding a Zacks Rank of #3 (Hold) right now.

Valuation is also important, so investors should note that Amgen has a Forward P/E ratio of 13.72 right now. Its industry sports an average Forward P/E of 15.68, so one might conclude that Amgen is trading at a discount comparatively.

We can additionally observe that AMGN currently boasts a PEG ratio of 2.36. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. By the end of yesterday's trading, the Medical - Biomedical and Genetics industry had an average PEG ratio of 1.25.

The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 76, finds itself in the top 31% echelons 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.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

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Amgen Inc. (AMGN) : Free Stock Analysis Report

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

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