Amgen "neutral"

22.01.08 - Robert W. Baird

NEW YORK, January 22 (newratings.com) - Analysts at Robert W Baird reiterate their "neutral" rating on Amgen Inc (AMGN). The target price is set to $56.

In a research note published this morning, the analysts mention that Abbott Laboratories? Humira drug has been approved by the FDA for the treatment of moderate-to-severe chronic plaque psoriasis. Sales of Amgen?s Enbrel drug, for which the primary source of growth seems to have been the psoriasis market in 2007, is likely to be adversely impacted going forward by Humira?s traction in the psoriasis market, the analysts say.