Amgen price target raised to $325 from $319 at Truist

Truist raised the firm’s price target on Amgen (AMGN) to $325 from $319 and keeps a Hold rating on the shares as part of a broader research note previewing Q1 earnings in Biotech. Reactivity to regulatory and policy shifts across the sector continues to ease, and the firm also notes a recent pickup in deal activity, which has the potential to build momentum through the remainder of the year into mid-terms, the analyst tells investors in a research note. For the company, the firm has also increased out-year penetration for Krystexxa to reflect the strengthened patent protection into 2040 and raised the probability of success for MariTide, reflecting greater confidence on its commercially viable profile in obesity, Truist added.