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Fly News Breaks for September 8, 2015
AMGN
Sep 8, 2015 | 05:51 EDT
UBS analyst Matthew Roden upgraded Amgen to Buy after his firm's PCSK9 survey of 50 doctors suggested upside to consensus estimates for Repatha. Roden sees a more favorable risk/reward with the stock down 14% since Amgen reported Q2 results. He raised his price target for shares to $168 from $165. Amgen closed Friday down $2.21 to $147.02.
News For AMGN 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.