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- 1 Since the last 6-months, AMGN stock has shown a bearish outlook, indicating investors’ loss of confidence with Amgen Inc.
- 2 Last week, the AMGN stock price showed little price rise with the dominance of active bulls in the market.
Amgen, Inc. (NASDAQ: AMGN), an American multinational biotechnology company, is headquartered in Thousand Oaks, CA. The company has a market cap of $119.14 Billion while having a net income of $2.84 Billion, as reported in its recent Q1 2023 reports, released on April 27, 2023.
According to its Q1 2023 results, the reported earnings per share (EPS) of Amgen Inc. is $3.98 while the estimation was $3.85. On the other hand, the reported revenue is $6.11 Billion while the estimation was $6.15 Billion. For the upcoming quarterly reports, the estimated EPS is $4.48 while the revenue is estimated to reach $6.69 Billion.
Furthermore, last year, the revenue of Amgen Inc. amounted to $26.32 Billion. Out of this, nearly $24.80 Billion came from its highest performing source at the moment, Human Therapeutics. Meanwhile, the U.S. was the greatest contributor to the revenue figure as it brought $18.59 Billion last year.
According to Yahoo Finance, the U.S.-based business news platform, more than 79% of AMGN shares are held by institutions. Meanwhile, Vanguard Group, Inc., Blackrock Inc., and State Street Corporation are the 3-leading institutional holders of Amgen Inc.
AMGN Stock Price Analysis
On July 6, 2023, Thursday, AMGN stock price opened at $224.92, noted high at $225.99 while low was $221.70. However, the closing of stock was $222.98 which showed an over 1% decline in Thursday’s trading session. As the stock underperformed in its recent trading session, the stock price started showing a downside trend.
As shown in the above price chart, AMGN stock showed a downside outlook, while its recent closing was near its 50-day moving average. But as the bears have shown their dominance in the recent trading session, its price dropped to its 20-day moving average.
From the beginning of this week, the AMGN stock price has shown bullishness, which turned to bearishness near the weekend. As bears have started showing their dominance in the market, its price may take a downside ride. This further took the RSI of stock to follow a downside track which may further fall if their market dominance stays as it was in its previous trading session.
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Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
