11 Cheap Pharmaceutical Stocks to Buy Now

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5. Amgen Inc. (NASDAQ:AMGN)

Forward P/E: 14.14

Number of Hedge Fund Holders: 69

Amgen Inc. (NASDAQ:AMGN) is one of the top cheap pharmaceutical stocks to buy now. Leerink Partners analyst David Risinger maintained a neutral stance on Amgen Inc. (NASDAQ:AMGN) on July 23, giving the company a Hold rating without a price target.

The analyst based the rating on the company’s ongoing R&D initiatives, especially the rocatinlimab trials for atopic dermatitis.

He stated that while the initial results from the HORIZON trial were underwhelming with some safety concerns and modest efficacy, there is potential for improvement as detailed results from the IGNITE, SHUTTLE, and VOYAGER trials roll out in the second half of the year.

This could offer additional insight into the drug’s benefit-risk profile, according to the analyst.

Amgen Inc. (NASDAQ:AMGN) is a biotechnology company that discovers, develops, manufactures, and markets human therapeutics. It delivers new therapies for patients with complex cancers, especially in areas with significant unmet needs.

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