Citadel Securities Starts Amgen (AMGN) at Neutral, Waiting For More News Before Getting More Bullish
Tweet
Share
E-mailGet Alerts AMGN Hot Sheet
Price: $415.21 -0.63%
Rating Summary:
20 Buy, 18 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
20 Buy, 18 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Citadel Securities initiates coverage on shares of Amgen (NASDAQ: AMGN) with a Neutral rating and a price target of $54.
The firm reports that it anticipates continued declining revenues from the company's core Erythropoietin Stimulating Agent franchise, which it feels may or may not be offset by growth from its emerging bone drug franchise, Prolia/XGEVA. Citadel only estimates that Prolia/XGEVA will have peak sales of $1.6 billion in 2015, which is well below the Streets estimate of ~$2.8 billion.
In the long run AMGN's pipeline looks strong while in the short term not much is present. The firm notes that positive pipeline events really drive the stock unlike many other circumstances or issues. The company currently has five different drugs in Phase 2 trials in oncology and inflammation for the long run, but with $17 billion in cash, Citadel notes that AMGN could in-license additional assets going forward.
For more ratings news on Amgen click here and for the rating history of Amgen click here.
Shares of Amgen closed at $54.07 yesterday.
The firm reports that it anticipates continued declining revenues from the company's core Erythropoietin Stimulating Agent franchise, which it feels may or may not be offset by growth from its emerging bone drug franchise, Prolia/XGEVA. Citadel only estimates that Prolia/XGEVA will have peak sales of $1.6 billion in 2015, which is well below the Streets estimate of ~$2.8 billion.
In the long run AMGN's pipeline looks strong while in the short term not much is present. The firm notes that positive pipeline events really drive the stock unlike many other circumstances or issues. The company currently has five different drugs in Phase 2 trials in oncology and inflammation for the long run, but with $17 billion in cash, Citadel notes that AMGN could in-license additional assets going forward.
For more ratings news on Amgen click here and for the rating history of Amgen click here.
Shares of Amgen closed at $54.07 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Amgen (AMGN) PT Raised to $388 at Guggenheim
- JPMorgan Assumes salesforce.com (CRM) at Overweight, 'Overblown Concerns'
- ICICI Securities Resumes Oberoi Realty Ltd (OBER:IN) at Buy (1)
Create E-mail Alert Related Categories
New CoverageSign 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!
