Amgen "neutral"

29.05.07 - Red Chip

NEW YORK, May 29 (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 a possible roll-back of CMS' ESA-use NCD provisions by August, a longer-term setback for Roche's Mircera in the US, expected in fall this year, and Amgen?s share repurchase programme lend upside to the company?s share price. News about ESA use being discussed by European regulatory bodies, more payer restrictions in the renal setting, and new private-payer restrictions in the oncology setting comprise downside risks for Amgen?s share price, the analysts add.