Bernstein downgraded Amgen (AMGN) to Market Perform from Outperform with an unchanged price target of $335 to reflect the firm’s view that “2026 is a waiting year” for MariTide. The downgrade also incorporates new overhangs, including risk to Repatha with Merck’s (MRK) enlicitide pricing and debate around Lp(a) outcome impact until read-across for Novartis’ (NVS) pelicarsen, the analyst tells investors.
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