Amgen "neutral"

13.06.07 - Robert W. Baird

NEW YORK, June 13 (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 Enbrel, the company?s key franchise player, remains the leading treatment choice for moderate-to-severe plaque psoriasis. Enbrel psoriasis revenues for 2007, 2008, 2009 and 2010 are estimated at $308 million, $453 million, $575 million and $700 million, respectively, the analysts say. These estimates might come under pressure, following the anticipated approval of Humira for psoriasis in 1Q08, Robert W Baird adds.