Amgen, Inc. (NASDAQ: AMGN)
Amgen is off to a relatively strong start today after yesterday’s big announcement with regard to Prolia. Today, we’ll take a look at yesterday’s announcement, talk about how the market is reacting to the news, and discuss what we can expect to see from AMGN moving forward.
AMGN Announces Positive Data
AMGN announced the findings from a Phase 4 study looking into Prolia yesterday. The study found that Prolia caused higher gains in bone material density than the intravenous bisphosphonate zoledronic acid in postmenopausal women with osteoporosis. Amgen’s findings were presented on Sunday at the American Society for Bone and Mineral Research 2015 Annual Meeting. The study lasted for one year and enrolled 643 women that were age 55 or older and had postmenopausal osteoporosis. Following the announcement, Dr. Paul Miller, lead investigator and medical director of the Colorado Center for Bone Research had the following to say…
“Despite the availability of newer therapies like denosumab, bisphosphonates are commonly used first-line to treat osteoporosis… Our findings showed that denosumab provides significantly greater bone mineral density increases than zoledronic acid…”
How AMGN Is Reacting To The News
As mentioned above, AMGN is having a relatively strong start to trading in today’s session. Currently (10:43) the stock is trading at $151.91 after a gain of 1.55% so far today. It’s also worthwhile to mention that the volume we’re seeing on the stock is relatively high today. Over the past 50 days, according to NASDAQ, AMGN has had an average volume of 4,310,103 shares traded. However, today so far, 1,539,888 shares have traded hands and we’ve just begun the trading session.
What We Can Expect To See Moving Forward
Moving forward, I’m expecting to see more positive news out of AMGN. The reality is that the company has proven its abilities with regard to medical innovation. With the new results from the Phase 4 study looking into Prolia, investors have plenty of reason to be excited about AMGN and what to expect in the future as well. While there will always be ups and downs in the market, I’m expecting to see more ups than downs from AMGN moving forward.
What Do You Think?
Where do you think AMGN is headed and why? Let us know in the comments below!
[Image Courtesy of Learn Bonds]