After the stock market closed on Thursday, Amgen, Inc. (NASDAQ:AMGN) jumped higher after reporting great earnings. In addition, positive news on a cholesterol drug could mean billions in future revenue for the biotechnology company. The stock is up sharply, trading above $163.50. This bullish move on Amgen, Inc. will kick start other biotechnology plays. My favorite biotech plays off of Amgen are Gilead Sciences (GILD) and Teva Pharmaceutical Industries (TEVA). Both stocks have rallied off recent 52 week lows, showing massive institutional accumulation. Both are cheap on a valuation basis.


Investors buy biotechnology stocks on Amgen earnings beat