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Fly News Breaks for June 5, 2015
SNY, REGN, AMGN
Jun 5, 2015 | 09:18 EDT
The FDA's Endocrinology Division this morning released its review document for Regeneron (REGN) and Sanofi's Praluent, which will be reviewed by the Committee on June 9. Piper expects the review document for Amgen's (AMGN) Repatha to be released on Monday, with its Advisory Committee assessment on June 10. Piper says Praluent document sets a high bar. The firm concludes, "Overall it looks like Praluent is in good shape, and we are hoping to see a similarly favorable review for Repatha."
News For AMGN;REGN;SNY From the Last 2 Days
SNY
Mar 27, 2024 | 06:16 EDT
Wells Fargo analyst Derek Archila raised the firm's price target on Annexon (ANNX) to $12 from $11 and keeps an Overweight rating on the shares. The firm believes the risk/reward remains favorable ahead of ANX005's Phase 3 data in GBS. Additionally, updates for ANX007 at ARVO, Phase 3 GBS data at PNS and read through from Sanofi's (SNY's) riliprubart in CIDP at AAN, all could offer upside for shares, Wells adds.
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.