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Fly News Breaks for January 6, 2017
TEVA, AMGN, REGN, ALDR
Jan 6, 2017 | 06:10 EDT
Jefferies analyst Brian Abrahams says that while a District Court judge decided in Amgen's (AMGN) favor, most importantly for Alder Biopharmaceuticals (ALDR), she decided the public interest component in favor of Regeneron (REGN). This is a "clear positive precedent" for Alder and should "substantially reduce" any concern Teva (TEVA) could keep the company off the U.S. market. Abrahams keeps a Buy rating on Alder with a $46 price target.
News For ALDR;REGN;AMGN;TEVA From the Last 2 Days
AMGN
Mar 26, 2024 | 07:08 EDT
JPMorgan estimates Amgen (AMGN) without its obesity pipeline is worth $240-$250 per share and that the market is assigning $30-$40 per share of value to Maritide. While the competitive bar for Maritide is high and moving higher based on Novo Nordisk's (NVO) recent pipeline updates, the obesity market is also "unprecedented in terms of size," the analyst tells investors in a research note. The firm estimates peak sales for Maritide of $6B, equating to mid-single-digit share within the incretin space. JPMorgan believes this supports a value roughly in-line with what is reflected in Amgen's current share price. It sees a positive risk/reward scenario given the recent pullback but maintains a Neutral rating on the name with a $290 price target. The firm says Amgen is viewed as the best positioned name beyond Eli Lilly (LLY) and Novo to have a role in the obesity space.