Amgen a Long-Term Hold

Tags: amgn
18 Dec 3:11am
Posted by ZacksResearch
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Amgen, Inc. (AMGN), a global biotechnology company, is focused on the development and commercialization of human therapeutics. The company's key products are Epogen/Aranesp (anemia), Neupogen/Neulasta (neutropenia), and Enbrel (inflammatory disease).

Results over the past few quarters demonstrate the challenging, but stabilizing ESA [erythropoiesis stimulating agents] market. Nevertheless, we still feel as though the pipeline is significantly undervalued, and we continue to recommend the name as a long-term hold within the biotechnology sector.

Recent positive news on phase III denosumab is a big reason we continue to be positive on Amgen. Our price target is $62.

Read the full analyst report on AMGN.




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