Amgen "buy"

13.09.07 - Deutsche Securities

NEW YORK, September 13 (newratings.com) - Analyst Jennifer Chao of Deutsche Bank Securities maintains his "buy" rating on Amgen Inc (AMGN). The target price is set to $70.

In a research note published yesterday, the analyst mentions that the FDA?s cardio renal panel has voted against changing the EPO dosing guidelines, recommending a 10-12 g/dL hemoglobin target. The FDA is likely to call for further trials of EPO in order to more fully characterize the product?s safety and efficacy, the analyst says. Amgen is likely to meet with the FDA within three weeks for updating the EPO renal label, Deutsche Bank Securities adds.