Giles Coghlan LLB, Lth, MA
Financial Source
Amgen is a multinational biopharmaceutical company that specializes in the development and manufacturing of innovative therapies to treat serious illnesses. The company is focused on using advanced biotechnology and scientific research to address some of the most complex medical conditions, including cancer, cardiovascular disease, kidney disease, inflammatory diseases, and bone disorders.
As a healthcare stock, the company can potentially weather any tougher US financial conditions that may be ahead. This is because even during a recession, healthcare needs are still prioritized, supporting healthcare stocks.
Over the last 20 years, Amgen’s share price has risen 85% of the time between May 31 and July 29, with an average return of 9.14% and an annualized return of over 72%. So, in the face of worries over a looming US recession, is Amgen a healthcare stock worth considering?
Major trade risks: The biggest risk here is if Congress fails to pass the US debt ceiling talks in a timely manner. This could potentially send US stocks into a freefall.
Our products and commentary provides general advice that do not take into account your personal objectives, financial situation or needs. The content of this website must not be construed as personal advice.
Recommended content
Editors’ Picks
EUR/USD holds gains above 1.0700, as key US data loom
EUR/USD holds gains above 1.0700 in the European session on Thursday. Renewed US Dollar weakness offsets the risk-off market environment, supporting the pair ahead of the key US GDP and PCE inflation data.
GBP/USD extends recovery above 1.2500, awaits US GDP data
GBP/USD is catching a fresh bid wave, rising above 1.2500 in European trading on Thursday. The US Dollar resumes its corrective downside, as traders resort to repositioning ahead of the high-impact US advance GDP data for the first quarter.
Gold price edges higher amid weaker USD and softer risk tone, focus remains on US GDP
Gold price (XAU/USD) attracts some dip-buying in the vicinity of the $2,300 mark on Thursday and for now, seems to have snapped a three-day losing streak, though the upside potential seems limited.
XRP extends its decline, crypto experts comment on Ripple stablecoin and benefits for XRP Ledger
Ripple extends decline to $0.52 on Thursday, wipes out weekly gains. Crypto expert asks Ripple CTO how the stablecoin will benefit the XRP Ledger and native token XRP.
US Q1 GDP Preview: Economic growth set to remain firm in, albeit easing from Q4
The United States Gross Domestic Product (GDP) is seen expanding at an annualized rate of 2.5% in Q1. The current resilience of the US economy bolsters the case for a soft landing.