Amgen assumed with a Neutral at Guggenheim

Guggenheim analyst Vamil Divan assumed coverage of Amgen (AMGN) with a Neutral rating and $288 price target With the pending loss of U.S. market exclusivity for both Prolia and Xgeva later this month and the expected upcoming erosion for blockbuster medications such as Enbrel and Otezla, the firm views Amgen as a company with a portfolio that is “in transition,” but with “an intriguing pipeline of assets that could help to replace sales that are at risk,” the analyst tells investors.