Leerink Partners analyst David Risinger has maintained their neutral stance on AMGN stock, giving a Hold rating on July 23.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
David Risinger has given his Hold rating due to a combination of factors related to Amgen’s ongoing research and development efforts, particularly concerning their rocatinlimab trials for atopic dermatitis. The initial results from the HORIZON trial were not as promising as expected, showing modest efficacy and some safety concerns, such as fever and chills after the first dose. Despite these underwhelming results, there is potential for improvement as further detailed results from the IGNITE, SHUTTLE, and VOYAGER trials are anticipated in the second half of 2025, which could provide more insight into the drug’s benefit-risk profile.
Risinger also notes that while the consensus sales projections for rocatinlimab by 2032 are relatively low, his projections are more optimistic, suggesting a potential upside. However, the timing of regulatory filings remains uncertain, with expectations that it could occur in early 2026 after the completion of all eight Phase 3 trials. Additionally, the competitive landscape is expected to shift with upcoming data from a competing drug candidate, amlitelimab, which could set new benchmarks for efficacy and safety. These factors contribute to a cautious outlook, justifying the Hold rating as the market awaits more comprehensive data.
In another report released on July 23, Citi also maintained a Hold rating on the stock with a $305.00 price target.
AMGN’s price has also changed slightly for the past six months – from $280.300 to $301.290, which is a 7.49% increase.