RBC Capital believes that data presented by Amgen on its evolocumab drug for hyperlipidemia.was "very positive." The firm expects the drug to be approved in late summer. It predicts that revenue from the drug will ramp modestly and steadily, and then accelerate after positive studies of the drug's effects are released in 2017. RBC Capital estimates that worldwide revenue from the drug will peak at $2.5B+. It keeps an Outperform rating on Amgen.

BMO Capital says that in a in a "surprise announcement," CytomX Therapeutics (CTMX) this morning announced it will provide an initial CX-904 Phase 1a dose escalation update when it reports Q1 results on May 8. CytomX had previously guided to CX-904 initial Phase 1a data in solid tumors in the second half of 2024, the analyst tells investors in a research note. The firm says the Phase 1a data is intended to inform a potential decision to initiate Phase 1b expansion cohorts in specific EGFR positive tumor types in conjunction with partner Amgen (AMGN). BMO expects the stock to react positively "given current levels" to the announcement. It has a Market Perform rating on CytomX with a $3.25 price target. The stock in premarket trading is up 93% to $3.15