Amgen (AMGN) Stock

The market reacted negatively to Amgen's (AMGN 1.00%) recent clinical data update, causing the company's shares to drop over 12% at one point on November 26. However, they managed to recover and ended the day down only 4.7%.

THOUSAND OAKS, Calif., Nov. 29, 2024 /PRNewswire/ -- Amgen (NASDAQ:AMGN) is scheduled to speak at the 7th Annual Evercore HealthCONx Conference at 10:00 a.m.

Although Amgen is struggling below the 200-day line, there are still opportunities to make a profit. The article titled "Wide Trading Range For Amgen Stock Makes This Option Shine" was published by Investor's Business Daily.

Amgen (AMGN) has been getting a lot of interest from users on Zacks.com recently. Because of this, it's important to know the information that could affect the future of the stock.

Amgen's shares have decreased by 6% over the past month, which is unusual for a big pharmaceutical company, especially since the market overall has increased by nearly 3%. The main reason for this decline appears to be an accidental release of clinical trial information that investors did not find appealing. This situation is unfortunate for shareholders.

Amgen's MariTide has demonstrated up to 20% weight loss in Phase II trials, with the possibility for further improvement after 52 weeks, as weight loss continues. While gastrointestinal side effects are a concern, Amgen intends to manage these by gradually increasing the dosage. The option for monthly or less frequent dosing gives MariTide a unique advantage, making it a strong contender as the first monthly treatment for type 2 diabetes.

Amgen's shares (AMGN -4.76%) fell recently, even though the company released a promising announcement about its weight management drug. They reported that patients using the anti-obesity treatment MariTide lost as much as 20% of their weight after a year.

Christopher Raymond from Piper Sandler appears on 'Fast Money' to discuss the drop in Amgen's stock following the results related to GLP-1.

On Tuesday, Amgen (AMGN) shares dropped significantly after the results of a trial for the company's new weight-loss drug were not as good as anticipated.