Amgen "overweight"

18.12.07 - Lehman Brothers

NEW YORK, December 18 (newratings.com) - Analyst Jim Birchenough of Lehman Brothers maintains his "overweight" rating on Amgen Inc (AMGN). The target price is set to $72.

In a research note published yesterday, the analyst mentions that the results of the Phase III HALT study on women suffering from breast cancer receiving the Aromatase inhibitor (AI) therapy have reaffirmed the benefits highlighted for denosumab. The tests point towards statistically significant improvement in bone mineral density (BMD), the analyst says. The data is expected to better position denosumab for pivotal studies in 2008, Lehman Brothers adds.