Amgen "neutral"

21.05.07 - Robert W. Baird

NEW YORK, May 21 (newratings.com) - Analysts at Robert W Baird reiterate their "neutral" rating on Amgen Inc (AMGN). The target price is set to $57.

In a research note published this morning, the analysts mention that the FDA has delayed Roche?s Mircera by five months due to inputs awaited from the agency?s cardio-renal advisory committee. While this development has positive implications for Amgen, the company faces substantial fundamental issues at present, the analysts say. The company?s EPO franchise faces significant regulatory and reimbursement concerns, Robert W Baird adds.