Bull’s Eye Report: Amgen (AMGN)

This is the second buy signal this stock has flashed in May.

   

At StateoftheMarkets.com, we strive to “own the best and ignore the rest” in our equity portfolios. Toward this end, each day we search our database for a “top stock” (a top rated company in terms of earnings strength as well as company and industry performance) that presents a strong technical “set up” and a good entry point.

In short, when our equity team is looking to add a stock to one of our portfolios, the “bull’s eye” stock shown below is generally their first choice.

Amgen (AMGN) is our most compelling buy today due to the fact that it is a top rated stock (in terms of earnings strength and company/industry performance) with a positive technical set-up. Biotechnology has been a great performer in 2013, and we featured AMGN  in our May 9 Bull’s Eye Report. After a couple of weeks and some price consolidation, AMGN looks just as attractive, if not more so than it did since our last feature, and is flashing a buy signal once again.

The stock has been straight up since late February before pulling back in mid-April. With recent highs of nearly $115, AMGN currently sits at $105.79 and has plenty of room to run higher. This week it crossed above all of its short- and intermediate-term moving averages, and looks poised to make a run back to its mid-April highs. If you’re late to the Biotech trade, AMGN still offers a great trading opportunity in the short-term.

Company Symbol Industry Stock Rating YTD% Gain S.T.
Stop Loss
Amgen AMGN Biotech 9.8 +18.49% $102.18

We Would Be Buyers:

At the current price (~$105.80).

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Company Profile:

Amgen Inc. is a global biotechnology pioneer that discovers, develops, manufactures and delivers human therapeutics. Its medicines help millions of patients in the fight against cancer, kidney disease, rheumatoid arthritis (RA), bone disease, and other serious illnesses. On December 10, 2012, the Company acquired all of the outstanding stock of deCODE Genetics (deCODE). In July 5, 2012, the Company acquired KAI Pharmaceuticals, a privately held company based in South San Francisco. In June 12, 2012, the Company acquired substantially all of the outstanding stock of Mustafa Nevzat Pharmaceuticals (MN). In March 7, 2012, the Company acquired Micromet, Inc. (Micromet), a publicly held biotechnology company focused on the discovery, development and commercialization of antibody-based therapies for the treatment of cancer.

Stock Rating:

The Stock Rating indicates the combined score of our proprietary Earning Strength and Company Performance models. The rating scale is 0 – 10 with 10 being the highest.

Disclosure:

At the time of publication the editor and affiliated companies own the following positions: None

Note: Positions may be bought or sold while this publication is in circulation without notice.

Amgen – Last 3 Months

 Bull's Eye Report: Amgen (AMGN)

Amgen – Last 12 Months

 Bull's Eye Report: Amgen (AMGN)

Amgen – Last 5 Years

 Bull's Eye Report: Amgen (AMGN)


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