Amgen, Inc. (AMGN), Onyx Pharmaceuticals, Inc. (ONXX): Monday’s Best Stocks

The company now plans to purchase up to an additional 15 million shares, which will be added onto the 8.7 million shares that are still left under its original repurchase authorization. C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) also entered into a $500 million accelerated repurchase agreement that will allow the company to buy approximately 6.1 million shares. Let’s remember that while share buybacks don’t put money directly into shareholders’ pockets, they do make a company appear cheaper on a P/E basis, since there are fewer shares left outstanding.

Finally, biopharmaceutical powerhouse Regeneron Pharmaceuticals Inc (NASDAQ:REGN) advanced 2.6% despite a lack of company-specific news today. This could be a continuation from late last week, when Oppenheimer initiated Regeneron Pharmaceuticals Inc (NASDAQ:REGN) with an “outperform” rating and a $300 price target, implying close to 20% upside. Oppenheimer believes expanded indications of its lead drug Eylea, as well as its ongoing research into other compounds, should send Regeneron Pharmaceuticals Inc (NASDAQ:REGN) higher. I have to agree that Eylea has become quite the powerhouse, but even I struggle to find value in Regeneron at its current price.

The article Today’s 3 Best Stocks originally appeared on Fool.com is written by Sean Williams.

Fool contributor Sean Williams has no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen name TMFUltraLong, track every pick he makes under the screen name TrackUltraLong, and check him out on Twitter, where he goes by the handle @TMFUltraLong.

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