UBS Maintains a 'Neutral' on Amgen (AMGN); Updating Model: Raising PT and 2012 EPS Estimates
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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
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UBS maintains a 'Neutral' on Amgen (NASDAQ: AMGN) price target raised from $69 to $71.
Analyst, Matthew Roden, said, "We have updated our AMGN model following quarterly results to reflect what we believe are product trends going forward. We have increased our 2012 Neulasta and Enbrel estimates to $3,936m and $4,166m following increased demand as well as meaningful price increases for
Enbrel. Finally, we are increasing our Xgeva estimate to $769m (from $697m) and lowering our Prolia estimate to $497m following 1Q results." (UBS raises FY12 EPS estimate from $6.00 to $6.12)
"In our view, a lack of visibility into organic revenue drivers/pipeline development tempers our enthusiasm for AMGN shares. That said, the risk/reward is likely positive ahead of the Sensipar ph3 EVOLVE data, as well as the potential for operating the business with improving margins."
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 $70.19 yesterday.
Analyst, Matthew Roden, said, "We have updated our AMGN model following quarterly results to reflect what we believe are product trends going forward. We have increased our 2012 Neulasta and Enbrel estimates to $3,936m and $4,166m following increased demand as well as meaningful price increases for
Enbrel. Finally, we are increasing our Xgeva estimate to $769m (from $697m) and lowering our Prolia estimate to $497m following 1Q results." (UBS raises FY12 EPS estimate from $6.00 to $6.12)
"In our view, a lack of visibility into organic revenue drivers/pipeline development tempers our enthusiasm for AMGN shares. That said, the risk/reward is likely positive ahead of the Sensipar ph3 EVOLVE data, as well as the potential for operating the business with improving margins."
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 $70.19 yesterday.
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