AMGN - Amgen Reports Q4: A Reanalysis
Background
Amgen (AMGN) has the same sort of problem that two of my somewhat struggling biotech longs have: old blockbusters with biosimilar threats. (These are AbbVie (ABBV) and Roche (RHHBY).) For that reason, even though I have not traded AMGN in almost two years, when I sold out at $181.22, I wanted to update my thinking about it as a comparator stock to ABBV and RHHBY. The results suggest to me that AMGN stock could be headed for more downward action from Wednesday's closing price of $184.86. Note, however,