Leerink Partners Reiterates a Neutral Stance on Amgen (AMGN)

Amgen Inc. (NASDAQ:AMGN) is one of the top cheap pharmaceutical stocks to buy now. Leerink Partners analyst David Risinger maintained a neutral stance on Amgen Inc. (NASDAQ:AMGN) on July 23, giving the company a Hold rating without a price target.

Dogs of the Dow: Why Amgen’s (AMGN) Dividend Power Makes it a Standout Pick

A pharmacist filling a prescription for a complex drug developed by the company.

The analyst based the rating on the company’s ongoing R&D initiatives, especially the rocatinlimab trials for atopic dermatitis.

He stated that while the initial results from the HORIZON trial were underwhelming with some safety concerns and modest efficacy, there is potential for improvement as detailed results from the IGNITE, SHUTTLE, and VOYAGER trials roll out in the second half of the year.

This could offer additional insight into the drug’s benefit-risk profile, according to the analyst.

Amgen Inc. (NASDAQ:AMGN) is a biotechnology company that discovers, develops, manufactures, and markets human therapeutics. It delivers new therapies for patients with complex cancers, especially in areas with significant unmet needs.

While we acknowledge the potential of AMGN to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AMGN and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.