Amgen "neutral"

07.06.07 - Robert W. Baird

NEW YORK, June 7 (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 company appears to be taking appropriate action to offset the damage to its EPO franchise from the ESA controversy. Amgen?s other commercial and clinical efforts are impressive, the analysts say. Robert W Baird adds, however, that political/regulatory forces, which are out of the company?s control, may continue to exert pressure on the share price in the near term.