Louis Navellier’s Top 15 Long-Term Stock Picks

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11. Amgen Inc. (NASDAQ:AMGN)

Number of Hedge Fund Holders: 68 

Navellier & Associates’ Stake: $4.8 million

Amgen Inc. (NASDAQ:AMGN) discovers, develops, manufactures, and delivers human therapeutics worldwide. As per the report of the third quarter of 2024, total revenues increased 23% to $8.5 billion in comparison to the third quarter of 2023, and GAAP earnings per share increased 62% from $3.22 to $5.22. In addition, the company generated $3.3 billion of free cash flow in the third quarter of 2024 versus $2.5 billion in the third quarter of 2023. Amgen is also planning to invest $1 billion to establish a second drug substance facility in North Carolina. This initiative will help the company meet the growing demand for innovative therapies while generating significant local economic impact. Moreover, Amgen is working on an innovative pipeline of therapies that target different diseases like heart disease, cancer, osteoporosis, and many more.

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