2024-11-30 06:20:00 ET
The market didn't appreciate Amgen 's (NASDAQ: AMGN) latest clinical data update, with the biopharma's shares falling more than 12% at one point on Nov. 26 from the previous day's close, though they recovered to close just 4.7% down for the day.
And, with shares of certain direct competitors, such as Eli Lilly (NYSE: LLY) , rising, the prevailing assumption seems to be that one company's stumble is another's gain. But is the market's reaction appropriate, or is this a good opportunity to buy the dip?
Let's take a closer look at the situation to determine if this stock is still worth buying.
