Amgen (AMGN) PT Raised to $275 at Oppenheimer on Olpasiran Potential
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Oppenheimer analyst Jay Olson raised the price target on Amgen (NASDAQ: AMGN) to $275.00 on the belief that Olpasiran has the potential to drive upside while noting multiple other catalysts.
The analyst stated "We're especially encouraged by olpasiran, which is an siRNA that inhibits Lp(a) for ASCVD patients with an ongoing Ph2 trial. We forecast risk-adjusted (41% POS estimate) olpasiran sales of $1.5B in 2030. Additional potential value-drivers include bemarituzumab from FPRX acquisition, BiTE program, inflammation candidates, and biosimilars. We update our model with the addition of olpasiran (AMG 890) driving our new $275 PT."
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