Amgen's (AMGN) ESMO Data Highlights AMG-510 as a Top Pipeline Program - Cantor Fitzgerald

Cantor Fitzgerald analyst Alethia Young reiterated a Neutral rating and $230.00 price target on Amgen (NASDAQ: AMGN) after the company presented updated AMG-510 data at the European Oncology Meeting (ESMO) in both non-small cell lung (NSCLC) and colorectal cancer (CRC).

The analyst stated "They saw one confirmed partial response in 12 960mg patients (8%) ORR, but we were aware of this partial response as it was announced previously. There is a clear difference in overall response rate in NSCLC and CRC, but both AMGN and their KOL believe that it is due to the different disease biology. Similar to what we said in our World Lung note, we think that 2020 will be the year in which we better understand durability, biology, mutational differences, and development strategy for AMG-510. In the meantime, we still find this to be one of Amgen's most interesting pipeline development programs".

For an analyst ratings summary and ratings history on Amgen click here. For more ratings news on Amgen click here.

Shares of Amgen closed at $193.28 yesterday.

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