Is Amgen Stock a Buy Now?
The U.S. Federal Trade Commission (FTC) allowed 's (NASDAQ: AMGN) purchase of Horizon Therapeutics to go through last month and the company announced the closing of the deal in a press release last week. The FTC filed a lawsuit back in May opposing the deal as the government worried the merger would hurt competition, but it eventually backed off that position.
Now that the deal is complete investors can expect some enhanced growth potential on the horizon for Amgen. Is that enough reason to buy this healthcare stock?
The acquisition of Horizon Therapeutics gives Amgen access to an incredibly promising drug called Tepezza, which patients use for thyroid eye disease. At its peak, the drug is forecast to bring in close to $3.9 billion in annual revenue by 2028.
Source Fool.com
Amgen Inc. Stock
The stock is an absolute favorite of our community with 25 Buy predictions and no Sell predictions.
On the other hand, the target price of 304 € is below the current price of 305.95 € for Amgen Inc., so the potential is actually -0.64%.
