Amgen (AMGN): Solid Results But Concerns Over Increasing Competition Demand a Neutral Rating - Baird

Baird analyst, Brian Skorney, reiterated his Neutral rating on shares of Amgen (NASDAQ: AMGN) after the company posted another solid quarter, with growth products continuing to deliver and the legacy portfolio retaining share. Many large caps have posted disappointing earnings but Amgen has been remarkably consistent. The next question to ask is how the company will fill the holes left by declines as biosimilar competition begins to erode sales of the mainstay blockbuster products.

Due to concerns over increasing competition, the analyst maintained his Neutral rating and PT of $157.00.

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 $170.68 yesterday.

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