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Amgen (AMGN) Stock Retreats, Leerink: Q3 Beat Overshadowed by Enbrel Pricing

NEW YORK (TheStreet) -- Shares of Amgen (AMGN) were falling 9.76% to $144.91 on heavy trading volume late-afternoon Friday as Leerink analysts said the company's better-than-expected 2016 fiscal third-quarter results were less important than the outlook for its arthritis drug Enbrel.

After yesterday's closing bell, the biotechnology company posted adjusted earnings of $3.02 per share, topping analysts' estimates of $2.79 per share. Revenue came in at $5.81 billion, which surpassed Wall...