Up 970-Fold Since Its IPO, Amgen Stock Could Be Overvalued

Over 41 years ago, Amgen
AMGN
, the Thousand Oaks, Calif.-based biopharma company formerly known as Applied Molecular Genetics, went public.

From a split-adjusted 27 cents a share in June 1983, shares of Amgen have risen at an 18.2% average annual rate to $262 on August 11, 2023 — beating the S&P 500’s 8.3% average increase during that period.