UBS Sees Continued Upside in Amgen (AMGN), Lifts Target to $400

Amgen Inc. (NASDAQ:AMGN) is included among the 10 Healthcare Stocks with Highest Dividends.

UBS Sees Continued Upside in Amgen (AMGN), Lifts Target to $400

On April 13, UBS lifted its price recommendation on Amgen Inc. (NASDAQ:AMGN) to $400 from $390. It reiterated a Buy rating on the shares. The revision came as part of a broader Q1 preview across the pharmaceuticals and biotechnology group.

On April 8, Truist also updated its view on the company. It boosted its price target to $325 from $319 and maintained a Hold rating, as part of a wider preview of Q1 earnings in biotech. The firm said that reactivity to regulatory and policy shifts across the sector has started to ease. It also pointed to a recent pickup in deal activity, which could build momentum through the rest of the year and into the mid-term period. For Amgen, Truist made a few specific adjustments. It increased its long-term penetration assumptions for Krystexxa, citing stronger patent protection that now extends into 2040. It also raised the probability of success for MariTide, reflecting greater confidence in its commercially viable profile in obesity.

Amgen Inc. (NASDAQ:AMGN) is a biotechnology company focused on discovering, developing, manufacturing, and delivering medicines for serious diseases. The company targets areas with high unmet medical needs and uses its expertise to develop treatments aimed at improving patient outcomes. It operates within the human therapeutics segment.

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