Amgen (AMGN): Phase 3 romosozumab Answers Some Questions - BMO
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
BMO Capital analyst, Ian Somaiya, reiterated his Outperform rating Amgen (NASDAQ: AMGN) after Amgen released additional results from its Phase 3 study of romosozumab, which provided a tangible explanation for the trial not achieving a key secondary endpoint of reduction in non-vertebral fractures. A lack of visibility into how this will translate into a label claim and compelling data for Radius's abaloparatide could limit peak sales to $700mn (assuming 1.0% peak global market share).
Looking ahead, the analyst sees the FOURIER CV outcomes trial (data 1Q17) as the most important catalyst for AMGN shares. No change to the price target of $190.
Shares of Amgen closed at $171.38 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- BMO Capital Cuts Price Target on Cooper Cos. (COO) Following 4Q Results
- MKM Partners Raises Price Target on Broadcom Ltd. (AVGO) to $207 Following 4Q Beat
- FBR Capital Raises Price Target on Methode Electronics (MEI) Following Better Than Expected 2Q
Create E-mail Alert Related CategoriesAnalyst Comments
Related EntitiesBMO Capital
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!