Amgen "neutral," target price raised

28.07.08 - Robert W. Baird

NEW YORK, July 28 (newratings.com) - Analysts at Robert W Baird maintain their "neutral" rating on Amgen Inc (AMGN). The target price has been raised from $50 to $64.

In a research note published this morning, the analysts mention that the company has released positive top line data from its FREEDOM study in post-menopausal osteoporosis for its D-Mab product. All the primary and secondary endpoints were achieved in the study and no difference was witnessed in serious infections between the treatment and placebo arms, the analysts say. The company is likely to generate D-Mab revenues of $70 million in 2009 and $615 million in 2010, Robert W Baird adds.