Amgen (AMGN) Posts Solid Q1, All Eyes Now on Repatha CV Outcomes Trial - BMO Capital
Get Alerts AMGN Hot Sheet
Rating Summary:
20 Buy, 13 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Join SI Premium – FREE
BMO Capital analyst M. Ian Somaiya reiterated an Outperform rating and raised his price target on Amgen (NASDAQ: AMGN) to $186.00 (from $183.00). He notes while results were solid all eyes will be on the upcoming Repatha CV outcomes trial.
Somaiya commented, "AMGN reported 1Q16 earnings that were ahead of our and Street estimates driven primarily by lower-than-expected operating expenses. With Amgen’s base business continuing to decline due to competition, we expect investor focus to remain on key growth driver Repatha, where CV outcomes data are expected in 2H16. We believe confirmation of Repatha’s benefits on CV events will lead to fewer payor access restrictions and accelerate Repatha growth, supporting our $5.5bn peak sales estimate."
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 $160.56 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- HSBC Downgrades Feng Tay Enterprises (9910:TT) to Hold
- Westamerica Bancorp (WABC) PT Lowered to $50 at Piper Sandler
- Intuitive Surgical (ISRG) PT Raised to $435 at Piper Sandler
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change, FDARelated Entities
BMO Capital, EarningsSign 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!