Where Will Amgen Be in 1 Year?
Biotech superstar Amgen (NASDAQ: AMGN) finds itself in an incredibly exciting position in 2020, with a lot to look forward to in 2021. The company has a number of late-stage clinical trials due to report results next year and is engaged in the ongoing development of new biosimilar drugs. Amgen also grabbed headlines last month as the first biotech stock to be included in the prestigious Dow Jones Industrial Average, giving mutual funds and exchange-traded funds that track the index increased access to Amgen's shares. Furthermore, Amgen hopes to be be fully recovered from the negative economic effects of the pandemic in 2021, and it may even make headway on a potential therapeutic for COVID-19.
For prospective investors, there may be a few opportunities to purchase the stock by the end of the year, but don't hold your breath for a deep discount anytime soon. As the company's current shareholders know, Amgen has a history of bouncing back from setbacks, and its plans for next year include marketing a plethora of products that can drive future earnings growth.
Image source: Getty Images.
Source Fool.com
