Q3 Preview: Amgen Looking to Impress After Recent Launch of Prolia
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Get Alerts AMGN Hot Sheet
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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Shares of Amgen Inc. (NASDAQ: AMGN) are trading up 48 cents to $58.03 in midday market movement on Monday ahead of the company third-quarter results scheduled to be released after the closing bell.
The biotechnology company is expected by analysts to to report third-quarter earnings of $1.27 per share on revenue of $3.77 billion.
In the second quarter, Amgen reported earnings of $1.38 per share, beating the analyst estimate by 8 cents. Revenue for the company in the second quarter was $3.8 billion, compared tot eh market consensus of $3.74 billion.
Since the start of the third quarter shares of Amgen are up $5.29 or 10.03 percent. Year-to-date the stock has risen $1.47 or 2.60 percent.
A valuation shows that Amgenis going for a froward P/E of 12.34x full-year 2010 estimates.
Data from Bloomberg shows that 20 analysts have a Buy rating on Amgen, 5 have Hold and 2 have a Sell. The average analyst price target of $66 with a target range of $46 to $80.
Analysts Comments
JPMorgan sees Amgen reporting earnings for the third quarter of $1.29 per share.
JPMorgan analyst says, "We have modestly reduced our Aranesp estimates, but remain above the Street (JPMe $622M; cons: $612M). We expect focus to be on the recent launch of Prolia and we are in line with the Street at $45M. We expect additional focus to be on dmab approval in SRE (PDUFA Nov 18) and phase 3 dmab prostate bone mets prevention data expected in 4Q10e."
On Monday, Atlantic Equities stated coverage on Amgen at Overweight with a price target of $75.
The biotechnology company is expected by analysts to to report third-quarter earnings of $1.27 per share on revenue of $3.77 billion.
In the second quarter, Amgen reported earnings of $1.38 per share, beating the analyst estimate by 8 cents. Revenue for the company in the second quarter was $3.8 billion, compared tot eh market consensus of $3.74 billion.
Since the start of the third quarter shares of Amgen are up $5.29 or 10.03 percent. Year-to-date the stock has risen $1.47 or 2.60 percent.
A valuation shows that Amgenis going for a froward P/E of 12.34x full-year 2010 estimates.
Data from Bloomberg shows that 20 analysts have a Buy rating on Amgen, 5 have Hold and 2 have a Sell. The average analyst price target of $66 with a target range of $46 to $80.
Analysts Comments
JPMorgan sees Amgen reporting earnings for the third quarter of $1.29 per share.
JPMorgan analyst says, "We have modestly reduced our Aranesp estimates, but remain above the Street (JPMe $622M; cons: $612M). We expect focus to be on the recent launch of Prolia and we are in line with the Street at $45M. We expect additional focus to be on dmab approval in SRE (PDUFA Nov 18) and phase 3 dmab prostate bone mets prevention data expected in 4Q10e."
On Monday, Atlantic Equities stated coverage on Amgen at Overweight with a price target of $75.
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