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Stock impact report

UBS Raises Amgen (AMGN) Target as Pharma and Biotech Setup Improves [Yahoo! Finance]

Amgen Inc. (AMGN) 
Last amgen inc. earnings: 4/30 04:01 pm Check Earnings Report
US:NASDAQ Investor Relations: investors.amgen.com
Company Research Source: Yahoo! Finance
On January 26, UBS lifted its price target on Amgen Inc. (NASDAQ:AMGN) to $390 from $380 and kept a Buy rating on the stock. The call reflects a more constructive view on the broader US pharma and biotech space. UBS expects the group to hold up well this year. Valuations are still appealing, investor positioning remains light, and some of the pressure around drug pricing has started to ease. Add in steady pharma-led M&A activity, which often spills over into biotech, and the setup looks supportive. Even with worries that guidance could turn cautious after the recent rally, UBS argues that big pharma and biotech still look cheap enough to keep money flowing into the sector. Earlier this month, Amgen CEO Bob Bradway spoke with CNBC's Jim Cramer and shared his optimism around the company's obesity drug. He said long-term weight management is one of the hardest challenges in this space, and that is where Amgen believes it can make a difference. On January 12, Amgen said a trial of it Show less Read more
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