Amgen "outperform"

18.12.07 - Credit Suisse

NEW YORK, December 18 (newratings.com) - Analysts at Credit Suisse maintain their "outperform" rating on Amgen Inc (AMGN). The target price is set to $63.

In a research note published yesterday, the analysts mention that Phase III data for the company?s denosumab (dmab) reflects improved bone mineral density (BMD) in female non-metastatic breast cancer patients, as compared to placebo. Although Amgen's share price has been under pressure ever since the FDA formed a new ODAC panel to review further negative trials results for Aranesp, there is limited downside risk to the company?s share price from the current level, Credit Suisse adds.