Baird Boosts Price Target on Amgen (AMGN) to $65 on Dmab News
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Robert W. Baird raised its price target on Amgen (Nasdaq: AMGN) to $65, reiterating their Outperform rating, saying yesterday's news of Dmab superiority over Zometa in its first Phase III SRE traisl is a true "best case" efficacy outcome.
Analyst Christopher Raymond said, "While some may quibble with confirmed incidence of Dmab ONJ, we think evidence suggests final data presentation will show an overall superior safety profile for Dmab as well. We are now buyers into the mid-$60s."
Shares of AMGN are up nearly 15% this AM to $60 per share.
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