Stock Update: Amgen Inc (NASDAQ:AMGN) – FDA Accepts Amgen’s Biosimilar Biologics License Application For ABP 501

[PR Newswire] – THOUSAND OAKS, Calif., Jan. 25, 2016 /PRNewswire/ — Amgen (AMGN) today announced that the U.S. Food and Drug Administration (FDA) has accepted for review Amgen’s Biologics License Application (BLA) for ABP 501, a biosimilar candidate to Humira® (adalimumab). “If approved, we believe ABP 501 could serve as an important additional approved therapeutic option for patients with chronic inflammatory conditions,” said Sean E. Harper, M.D., executive vice president of Research and Development at Amgen. Read more on this. Amgen Inc. (AMGN) , with a current market cap of $115.74B, opened at $156.18. Looking at today’s market, AMGN one day range is $153.00 to $158.00 with a trailing 52-week range being $130.09 to $181.81. AMGN shares are currently priced at 15.16x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s -4.23x earnings multiple. And for passive income investors, the company pays shareholders $4.00 per share annually in dividends, yielding 2.56%. According to a consensus of 18 analysts, the earnings estimate of $2.29 per share would be $0.13 better than the year-ago quarter and a $0.03 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $10.08, which would be a $1.38 improvement when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $5.53 Billion. If realized, that would be a 3.75% increase over the year-ago quarter. Recently, Credit Suisse Initiated AMGN at Outperform (Jan 20, 2016). Previously, Raymond James Initiated AMGN at to Mkt Perform. Investors should keep in mind is that the average price target is $185.79, which is 18.96% above where the stock opened this morning. See more in (NASDAQ:AMGN) Similar Articles: Stock Update (NASDAQ:AMGN): FDA Accepts Amgen’s New Drug Application For Novel Intravenous Calcimimetic Etelcalcetide Market Update (NASDAQ:AMGN): Novartis biosimilar copycat takes aim at Amgen’s drug Enbrel Stock Update: Amgen Inc (NASDAQ:AMGN) – Amgen And Allergan Announce Positive Top-line Results From Phase 3 Study of Biosimilar Candidate ABP 215
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