Amgen price target raised to $372 from $335 at BMO Capital

BMO Capital analyst Evan Seigerman raised the firm’s price target on Amgen (AMGN) to $372 from $335 and keeps an Outperform rating on the shares. The company’s MariTide Phase 2 Part 2 data has the potential to drive share strength beyond the commercial performance seen from Amgen in 202 as they represent the key remaining clinical update for Amgen in 2025 and could provide a view of MariTide’s potential as a maintenance therapy, the analyst tells investors in a research note. BMO’s higher price target reflects a higher probability of success for MariTide and benefits the stock has seen from an improving macro environment, the firm added.