In the latest trading session, Amgen (AMGN) closed at $230.37, marking a +1.36% move from the previous day. This change outpaced the S&P 500's 0.14% loss on the day. Elsewhere, the Dow lost 0.45%, while the tech-heavy Nasdaq lost 0.01%.Prior to today's trading, shares of the world's largest biotech drugmaker had gained 7.78% over the past month. This has outpaced the Medical sector's loss of 2.72% and the S&P 500's loss of 0.13% in that time.Amgen will be looking to display strength as it nears its next earnings release. On that day, Amgen is projected to report earnings of $4.10 per share, which would represent year-over-year growth of 7.61%. Our most recent consensus estimate is calling for quarterly revenue of $6.9 billion, up 4% from the year-ago period.Any recent changes to analyst estimates for Amgen should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.42% lower. Amgen is currently sporting a Zacks Rank of #3 (Hold).Looking at its valuation, Amgen is holding a Forward P/E ratio of 12.67. This represents a discount compared to its industry's average Forward P/E of 17.81.We can also see that AMGN currently has a PEG ratio of 1.53. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. AMGN's industry had an average PEG ratio of 1.27 as of yesterday's close.The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 157, which puts it in the bottom 39% of all 250+ industries.The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.You can find more information on all of these metrics, and much more, on Zacks.com. Zacks' Top Picks to Cash in on Artificial Intelligence In 2021, this world-changing technology is projected to generate $327.5 billion in revenue. Now Shark Tank star and billionaire investor Mark Cuban says AI will create "the world's first trillionaires." Zacks' urgent special report reveals 3 AI picks investors need to know about today.See 3 Artificial Intelligence Stocks With Extreme Upside Potential>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Amgen Inc. (AMGN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research