Does Amgen (AMGN) Have Enough Cash Flow To Justify Its Price?

Amgen shares have surged over recent years and a stream of high profile clinical wins has kept the story in the spotlight, which raises a simple question for you as an investor. Do the company’s current cash flows and their projected path really support today’s valuation, or has sentiment moved faster than the underlying economics? Over the past 5 years, Amgen has delivered a 147.6% share price gain, so a lot of future cash generation is already being referenced by the market. New oncology...