UBS upgraded Amgen (AMGN) to Buy from Neutral with a price target of $380, up from $317, as the analyst assumed coverage of the stock. While the firm notes that there continues to be “significant debate with heavily bearish sentiment,” it contends this could provide an opportunity as it sees upside from EPS and the pipeline, both from MariTide in obesity and a new Lp(a) cardiovascular drug in Phase 3 testing, the analyst tells investors.
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