P/E Ratio Insights for Amgen
Portfolio Pulse from Benzinga Insights
Amgen Inc. (NASDAQ:AMGN) stock has seen a recent increase, with a 0.08% spike in the current session to $310.50, an 8.17% rise over the past month, and a 23.83% gain over the past year. Investors are considering the P/E ratio to determine if the stock is overvalued. Amgen's P/E is lower than the Biotechnology industry average, which could indicate it is undervalued or expected to underperform.
January 26, 2024 | 8:45 pm
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Amgen's stock has risen recently, with a lower P/E ratio than the Biotechnology industry average, suggesting it might be undervalued or expected to underperform.
The P/E ratio is a key indicator of a stock's valuation. Amgen's lower P/E compared to its industry might attract investors looking for undervalued stocks, but it could also signal skepticism about future growth. The impact on the stock price is uncertain, as the P/E ratio is just one of many factors investors consider.
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