Amgen "neutral"

12.09.07 - Robert W. Baird

NEW YORK, September 12 (newratings.com) - Analyst Christopher J Raymond of Robert W Baird maintains his "neutral" rating on Amgen Inc (AMGN). The target price is set to $57.

In a research note published this morning, the analyst mentions that the panel members of the Cardio-Renal Drugs Advisory Committee have voted against changing the ESA label for including a target hemoglobin restriction. With this, Amgen?s nephrology franchise appears to be intact for now, the analyst says. Robert W Baird adds, however, that the FDA might continue to scrutinize the "hypo-responder" issue, which can prove to be another overhang for the project.