Amgen "buy"

29.08.07 - Stifel Nicolaus

NEW YORK, August 29 (newratings.com) ? Analysts at Stifel Nicolaus reiterate their "buy" rating on Amgen Inc (AMGN). The 12-month target price is set to $60.

In a research note published this morning, the analysts mention that the US Federal District Court in Boston has ruled in favour of the company, saying that Roche's Micera infringes on Amgen's EPO composition patent. The lawsuit is now scheduled to proceed to trial on September 4 and Amgen believes that Roche's Micera infringes on other Amgen patents as well, the analysts say.