Mizuho Securities analyst Salim Syed has maintained their neutral stance on AMGN stock, giving a Hold rating on January 28.
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Salim Syed’s rating is based on a thorough analysis of Amgen’s recent earnings call and future prospects. The company is facing a clinical hold on the AMG 513 drug, which creates uncertainty despite management’s confidence in its development. Additionally, the upcoming data from MariTide’s Phase 2 trials and the initiation of Phase 3 trials in the first half of 2025 add to the cautious outlook on obesity treatments.
Furthermore, while cardiovascular treatments like Olpasiran and Repatha show potential, their outcomes are expected in the latter half of 2025 or beyond, indicating a longer timeline for significant impact. In the rare diseases segment, Tepezza and Uplizna offer growth opportunities, but these are balanced by the anticipated neutral impact of Part D redesigns. Given these factors, Salim Syed has opted for a Hold rating, as the timing of positive developments remains uncertain, and existing challenges could affect near-term performance.
In another report released on January 28, Citi also maintained a Hold rating on the stock with a $295.00 price target.