Amgen price target lowered to $288 from $293 at Piper Sandler

Piper Sandler analyst Christopher Raymond lowered the firm’s price target on Amgen to $288 from $293 and keeps an Overweight rating on the shares. The company’s otherwise solid Q1 beat and guidance raise was overshadowed by a "fairly remarkable miss from both Otezla and – curiously – Enbrel," the analyst tells investors in a research note. Piper says Amgen posted another quarter "with customary puts and takes."