Amgen "sell"

01.08.07 - Lazard Capital Markets

NEW YORK, August 1 (newratings.com) - Analysts at Lazard Capital maintain their "sell" rating on Amgen Inc (AMGN). The target price is set to $50.

In a research note published yesterday, the analysts mention that although the final coverage decision on Aranesp by the CMS is not as restrictive as was initially proposed, it is still highly restrictive for the use of ESAs in oncology going ahead. While a final decision on ESAs in MDS was avoided, the ESA coverage in CIA has been restricted to eight weeks after the last chemo, or 12 weeks per year, which is less restrictive than was initially proposed, the analysts say.