"Amgen (NASDAQ: AMGN), the global biotechnology firm, is our latest 'stock of the month' selection," says value investor Charles Mizrahi. Here's the latest from Hidden Values Alert.

"The company markets human therapeutic products primarily in the areas of supportive cancer care, nephrology and inflammation.

"Its Aranesp is used for the treatment of anemia both in supportive cancer care and in nephrology. EPOGEN is used to treat anemia associated with chronic renal failure.

"Neulasta and NEUPOGEN selectively stimulate the production of neutrophils, one type of white blood cell that helps the body fight infections.

"Amgen generated more than $5.3 billion in free cash flow during the past twelve months. The company's balance sheet is strong; its current ratio (assets to liabilities) is 4:1. Amgen's net profit margin is currently 32.5%.

"In my view, AMGN is a well-run business, and a price of $49 or lower per share represents a very good value. If AMGN can grow earnings at only 8.5% per annum and maintain a P/E of 13, the stock will handsomely reward investors during the next five years."