Amgen: Lost in the Biotech Bargain Bin - Paul Price (Seeking Alpha)

Sign Up | Log In | What is SocialPicks?

Amgen: Lost in the Biotech Bargain Bin
Apr 05, 2008 05:32 AM UTC

Paul Price (Seeking Alpha)

Return	Risk
+4.46%	MID

Tracked Blogger

Profile & Performance

Subscribe to author

Symbol	Sentiment	Start	Return	Closed
AMGN		04/05/08	+37.44%	--

3/20 - "When markets get crazy you can sometimes pick up world-leading companies at extraordinary prices. I believe that type of opportunity exists right now in Amgen (AMGN)...Not only are (Amgen shares) absolutely low priced but the current P/E is just 10.4x median EPS projections for 2008...Sales and earnings are both likely to hit all-time highs this year so I see no reason for these shares to remain at such a depressed valuation."

"With consensus estimates of $4.00 for this year a return to even 17 times that number would bring Amgen shares back to $68 or up $28.00 [+70%] from today's price."

Read the rest of original post »

Add Comment

Be the first to comment on this story and earn 2 points.

Your Comment

IN THE PRESS

None of the information contained on SocialPicks.com constitutes a recommendation by SocialPicks or its users that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. SocialPicks is not responsible for the posts, discussions, and recommendations of the users on the Site. SocialPicks does not provide investment advice. You must make your own independent decisions regarding any security, portfolio of securities, transaction, or investment strategy mentioned on the website. SocialPicks' users' past results are not necessarily indicative of future performance. Neither SocialPicks nor any of its users guarantees any specific outcome or profit, and you should be aware of the real risk of loss in following any strategy or investments discussed on the website. You understand and agree that you use the Site and Services at your own discretion and risk and that you will be solely responsible for any damages that arise from such use. Before acting on any information contained on the website, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.