Lookout for price to sales ratio Index Amgen Inc. (NASDAQ:AMGN) TO HOST WEBCAST INVESTOR CALL FOLLOWING ANNOUNCED ACQUISITION OF HORIZON THERAPEUTICS

shares of Amgen Inc. (NASDAQ:AMGN) reached at $274.95 price level during last trade its distance from 20 days simple moving average was -3.45%, and its distance from 50 days simple moving average was 2.72% while it has a distance of 10.64% from the 200 days simple moving average.

Amgen (NASDAQ:AMGN) will host a webcast call for the investment community following the announced acquisition of Horizon Therapeutics at 8:00 a.m. ET on Monday, December 12, 2022. Robert A. Bradway, chairman and chief executive officer, along with members of the executive team, will participate.

Amgen AMGN uncovered that it will acquire Ireland-based Horizon Therapeutics plc HZNP for $116.5 per share in cash or $27.8 billion.

The acquisition represents a premium of approximately 47.9% to the closing price of $78.76 of Horizon on Nov 29, 2022.

We remind investors that Horizon had confirmed on Nov 29, 2022 that it is engaged in preliminary discussions with biotech giant Amgen, Janssen Global Services, LLC and Sanofi SNY for a potential acquisition offer being made for the company.

However, Sanofi recently dropped out of the race.

The acquisition offer by Amgen also represents a premium of approximately 19.7% to Horizon’s closing price of $97.29 per share on Dec 9, 2022. The offer by Amgen implies an enterprise value of approximately $28.3 billion.

Shares of Horizon are trading up in pre-market following the announcement.

The acquisition will add a complementary portfolio of rare disease drugs like Tepezza, Krystexxa and Uplizna to Amgen’s broad and diversified portfolio and should be accretive to the bottom line by 2024. Tepezza is approved for the treatment of thyroid eye disease. Krystexxa is used in adults to help reduce the signs and symptoms of gout that are not controlled by other treatments. Uplizna is a prescription medicine used to treat adults with neuromyelitis optica spectrum disorder (NMOSD) who are anti-aquaporin-4 (AQP4) antibody positive.

Liquidity:

The stock has a market cap of $152.37B with 535.00M shares outstanding, of which the float was 532.35M shares. Analysts consider this stock active, since it switched Trading volume reached 1,741,054 shares as compared to its average volume of 2.82M shares.

The Average Daily Trading Volume (ADTV) demonstrates trading activity related to the liquidity of the security. When Ave Volume tends to increase, it shows enhanced liquidity.

But when Ave Volume is lower, the security will tend to be cheap as people are not as keen to purchase it. Hence, it might have an effect on the worth of the security. AMGN’s relative volume was 0.94.

Relative volume is a great indicator to keep a close eye on, but like most indicators it works best in conjunction with other indicators and on different time frames. Higher relative volume you will have more liquidity in the stock which will tighten spreads and allow you to trade with more size without a ton of slippage.

Amgen Inc. has an average true range (ATR) of 6.26. Other technical indicators are worth considering in assessing the prospects for EQT. AMGN’s price to sales ratio for trailing twelve months was 5.79 and price to book ratio for most recent quarter was 40.80, whereas price to cash per share for the most recent quarter was 13.28.

The Company’s price to free cash flow for trailing twelve months was 31.41. Its quick ratio for most recent quarter was 1.30. Analysts mean recommendation for the stock was 2.80. This number is based on a 1 to 5 scale where 1 indicates a Strong Buy recommendation while 5 represents a Strong Sell.

Amgen Inc.‘s shares owned by insiders remained 0.21%, whereas shares owned by institutional owners are 79.10%.

Meanwhile, AMGN traded under umbrella of Healthcare sector, the stock was traded -7.32% ahead of its 52-week high and 31.56% beyond its 52-week low. So, both the price and 52-week high indicators would give you a clear-cut picture to evaluate the price direction.

The post Lookout for price to sales ratio Index Amgen Inc. (NASDAQ:AMGN) TO HOST WEBCAST INVESTOR CALL FOLLOWING ANNOUNCED ACQUISITION OF HORIZON THERAPEUTICS appeared first on Stocks Equity.

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