Amgen (AMGN) PT Lowered to $288 at Cowen

Cowen analyst Yaron Werber lowered the price target on Amgen (NASDAQ: AMGN) to $288.00 (from $294.00) while maintaining a Outperform rating.

The analyst commented, "Q4 EPS beat driven by other income as revs and OpEx were mainly in-line. Strength of Neulasta, Prolia, Repatha, Otezla and biosimilars drove modest rev upside. FY21 guidance reflects persistent COVID-19 headwinds and is largely in-line. We expect continued strong execution in Q1 despite seasonal weakness. We like risk/reward ahead of highly anticipated sotorasib combo data in H1:21 (likely ASCO)."

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