Louis Navellier’s Top 10 Long-Term Stock Picks

7. Amgen Inc. (NASDAQ:AMGN)

Navellier & Associates Equity Stake: $4.21 Million

Navellier & Associates’ First Major Purchase: Q2 2015

Number of Hedge Fund Holders: 70

Amgen Inc. (NASDAQ:AMGN) is one of Louis Navellier’s top long-term stock picks. On May 14, Piper Sandler reiterated an Overweight rating on Amgen Inc. (NASDAQ:AMGN) but lowered the price target to $427 from $432.

The new price target still represents significant upside potential as the research firm expects the company to deliver top-line revenue growth for both 2026 and 2027. The new price target is also less dependent on key commercial products, including Repatha, Tezspire, and Evenity.

The research firm expects continued strength in the rare disease segment, especially Uplizna, to accelerate underlying growth. Uplizna sales were up 188% year over year to $262 million in the first quarter, driven by volume growth.

Tepezza, an FDA-approved prescription medication for treating Thyroid Eye Disease (TED) in adults, is also expected to drive the growth following strong Phase III data. In the first quarter, Tepezza sales increased 29% year over year to $490 million, driven by higher inventory levels.

Amgen Inc. (NASDAQ:AMGN) is a leading global biotechnology company that discovers, develops, manufactures, and delivers innovative human therapeutics, focusing on treating serious illnesses in oncology, cardiology, bone health, inflammation, and rare diseases. As a pioneer in using living cells to create biologic medicines, Amgen serves millions of patients worldwide.

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