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AMGN

Amgen

$196.31

10.98 (5.92%)

08:00
08/12/19
08/12
08:00
08/12/19
08:00

Amgen price target raised to $202 from $197 at Wells Fargo

Wells Fargo analyst Jim Birchenough raised his price target for Amgen to $202 from $197 following the positive District Court decision on ENBREL patents. With validity of ENBREL patents affirmed, the analyst also adjusted his sales estimates to reflect stable trends, and lack of biosimilar erosion beyond 2019. Nonetheless, Birchenough reiterates a Market Perform rating on the shares as he believes the stock is fully-valued relative to growth, even with upward revision to ENBREL estimates.

  • 09

    Sep

  • 16

    Sep

AMGN Amgen
$196.31

10.98 (5.92%)

07/31/19
JEFF
07/31/19
NO CHANGE
Target $230
JEFF
Buy
Amgen shares worth over $200 if Enbrel patents hold up, says Jefferies
Amgen's results continue to be "relatively managed" between new products and a declining legacy business, Jefferies analyst Michael Yee tells investors in a research note. Assuming Enbrel's intellectual property holds up, price-to-earnings multiple expansion should drive the stock above $200 as new blockbusters likely drive upside estimate revisions, contends Yee. He sees Amgen shares as "bit binary short-term" on the looming Enbrel patent decision but believes the risk/reward is better than consensus expectations. Further, Yee sees upside to consensus if AMG-510 KRAS "continues to play out." He keeps a Buy rating on Amgen with a $230 price target.
08/10/19
PIPR
08/10/19
NO CHANGE
Target $210
PIPR
Overweight
Amgen wins 'big' in courtroom, Enbrel overhang removed, says Piper Jaffray
Piper Jaffray analyst Christopher Raymond reiterates an Overweight rating and a $210 price target on Amgen's (AMGN) shares following news that the company has won the Enbrel IP litigation with challenger Sandoz. The analyst notes that this challenge could have pulled forward Enbrel's LOE from 2029 to essentially right now, which has been the number 1 concern surrounding the stock. With shares up about 6% on this news, Raymond sees the reaction as appropriate and, while the stock is approaching his target at these levels, he believes shares are likely to grind higher on this removed overhang. Sandoz is a division of Novartis (NVS).
08/12/19
SBSH
08/12/19
NO CHANGE
SBSH
Amgen a 'cleaner' story with Enbrel overhang removed, says Citi
Citi analyst Mohit Bansal says the favorable Enbrel patent ruling makes Amgen a "cleaner biotech story." This was a key overhang on Amgen, and the removal could let investors become more constructive on the company's pipeline, Bansal tells investors in a research note. Further, the analyst thinks Amgen's legacy business decline is now approaching an inflection point where other products could offset it. He keeps a Buy rating on Amgen shares.
08/12/19
LEHM
08/12/19
NO CHANGE
Target $31
LEHM
Overweight
Coherus should be bought on weakness from Enbrel ruling, says Barclays
Barclays analyst Balaji Prasad recommends buying shares of Coherus Biosciences (CHRS) on any weakness from Amgen's (AMGN) favorable Enbrel patent ruling against Novartis (NVS). Coherus is developing its own Enbrel generic, says the analyst, whose model already factors a launch in Q2 of 2029, following the expiration of the last U.S. Enbrel patent. As such, Prasad is making no change to his estimates following Friday's decision. He remains positive on Coherus and would use any share weakness as an opportunity to add a "fundamentally sound company." Prasad reiterates an Overweight rating on the shares with a $31 price target.

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Acceleron

$44.67

0.75 (1.71%)

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ORCL

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$53.12

-0.64 (-1.19%)

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ORCL

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ACRS

Aclaris Therapeutics

$1.09

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GLW

Corning

$30.04

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XLRN

Acceleron

$44.67

0.75 (1.71%)

SHOP

Shopify

$337.93

-0.77 (-0.23%)

KHC

Kraft Heinz

$29.62

0.37 (1.27%)

PSTV

Plus Therapeutics

$9.51

-0.05 (-0.52%)

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KHC

Kraft Heinz

$29.62

0.37 (1.27%)

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KHC

Kraft Heinz

$29.62

0.37 (1.27%)

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HMSY

HMS Holdings

$37.14

0.24 (0.65%)

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ICAD

iCAD

$6.89

-0.01 (-0.14%)

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GLW

Corning

$30.04

-0.12 (-0.40%)

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WE

We Company

$0.00

(0.00%)

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GLW

Corning

$30.04

-0.12 (-0.40%)

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WE

We Company

$0.00

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GM

General Motors

$37.21

-1.62 (-4.17%)

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HLNE

Hamilton Lane

$59.95

-0.51 (-0.84%)

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Hamilton Lane vice chairman sells 150K shares of common stock »

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  • 26

    Sep

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HLNE

Hamilton Lane

$59.95

-0.51 (-0.84%)

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Hamilton Lane chairman sells 78.5K shares of common »

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  • 26

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GD

General Dynamics

$190.91

0.98 (0.52%)

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