Salveen Richter, an analyst from Goldman Sachs, maintained the Buy rating on Amgen (AMGN – Research Report). The associated price target remains the same with $400.00.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Salveen Richter has given his Buy rating due to a combination of factors that highlight Amgen’s strong growth potential. The company is demonstrating robust execution in its commercial business, particularly with key products like Repatha and Evenity, and is optimistic about the growth prospects of its early lifecycle assets such as Tezpire for asthma and Blincyto for leukemia. Additionally, Amgen’s recent launch of Uplizna in rare diseases and its expanding biosimilars portfolio further bolster its growth outlook.
Amgen’s strategic initiatives, including the MariTide presentation at the ADA annual meeting, underscore its commitment to innovation and addressing unmet medical needs. The company’s broad pipeline, featuring promising candidates like olpasiran and Tezpire in new indications, reflects its potential for future growth. Despite uncertainties in drug pricing and tariffs, Amgen is actively engaging with policymakers and remains open to business development opportunities, aiming to return to pre-HZNP debt levels by the end of 2025. These factors collectively support the Buy rating assigned by Salveen Richter.
Richter covers the Healthcare sector, focusing on stocks such as Biogen, Amgen, and Regeneron. According to TipRanks, Richter has an average return of 9.0% and a 43.10% success rate on recommended stocks.
In another report released on June 9, Piper Sandler also reiterated a Buy rating on the stock with a $328.00 price target.