Cantor Fitzgerald Locates Data on Amgen (AMGN) Hidden in Tables for MariTide's Data

Cantor Fitzgerald analyst Olivia Brayer reiterated an Overweight rating and $405.00 price target on Amgen (NASDAQ: AMGN).

The analyst comments "We just came across a new piece of information from MariTide's Ph1, and we found a big surprise... The supplemental appendix file seems to show bone mineral density (BMD) data for MariTide (AMG-133) - which was a big unknown and risk given its mechanism (GIPR antagonism). ● In addition, there seems to include data for predecessor molecule AMG 598, a molecule Amgen may have been developing to potentially disprove the BMD loss hypothesis for GIPR antagonism. ● You can see this if you unhide tabs from one of the extended data excel files - "Source Data Extended Data Fig. 4" (more on this with screenshots below. We're including screenshots of the data we found interesting below - which suggest a -4% BMD loss for the 420mg dose in the MariTide's Ph1 MAD study over 12 weeks. ● On one hand, patients could naturally lose bone mineral density during weight loss treatment (i.e., if they eat too little & diet is not optimized) ● On the other hand, this could be a non-starter because there seems to be a dose-dependent increase in BMD loss."

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 $321.81 yesterday.

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