Jefferies analyst Michael Yee maintained a Buy rating on Amgen (AMGN – Research Report) yesterday and set a price target of $350.00.
Michael Yee has given his Buy rating due to a combination of factors that highlight Amgen’s strong growth potential and strategic positioning. One of the key reasons is the company’s promising 2025 guidance, which has exceeded expectations and instilled confidence in its financial drivers for the year. Additionally, Amgen’s recent data releases, particularly the MariTide data presented at the ADA and the upcoming Phase III Lp(a) data, have shown significant potential, especially in the obesity and cardiovascular segments.
Another reason for the Buy rating is the robust performance of Amgen’s products like Repatha, Evenity, and Tezspire, which have demonstrated impressive year-over-year growth. The company also anticipates that the revenue from Evenity will more than offset any erosion from Dmab biosimilars, thanks to its strong prescriber base and chronic dosing patterns. Furthermore, Amgen’s Eylea biosimilar is gaining traction in the market, adding to the company’s growth prospects. These factors collectively contribute to a positive outlook for Amgen’s stock, justifying the Buy recommendation.
According to TipRanks, Yee is an analyst with an average return of -2.2% and a 41.18% success rate. Yee covers the Healthcare sector, focusing on stocks such as Vertex Pharmaceuticals, Gilead Sciences, and Amgen.
In another report released on February 20, Bernstein also maintained a Buy rating on the stock with a $350.00 price target.