Jim Cramer on Amgen: "Company Announced Some Very Promising Heart Attack Prevention Results"

Amgen Inc. (NASDAQ:AMGN) is one of the stocks Jim Cramer offered insights on. Cramer discussed the stock’s rally and the company’s cholesterol drug phase 3 trial. He stated:

“In the last few weeks, the long-dormant healthcare sectors finally started to show a little life. It’s so inexpensive, it’s crazy. Take Amgen, the big biotech company with a host of drugs for cardiovascular disease, inflammation, oncology, all sorts of rare diseases. This stock’s up roughly 20% from its late September lows, including a monster run last week when Amgen reported spectacularly better than expected quarter. Then this past weekend, the company announced some very promising heart attack prevention results from a phase 3 clinical trial of Repatha, that’s the cholesterol drug.”

Amgen Inc. (NASDAQ:AMGN) discovers, develops, and delivers therapeutics across oncology, cardiovascular, immunology, and bone health. Cramer highlighted the company during the November 5 episode and said:

“Look, I think Amgen needs to do something because they’ve gotta broaden the portfolio where they need to be able to tell a little bit better story about some of the things that, they have a lot of good medicines, and they had a really good quarter last night.”

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Disclosure: None. This article is originally published at Insider Monkey.