Piper Sandler Maintains Overweight Rating for Amgen: Here's What You Need To Know

Piper Sandler has decided to maintain its Overweight rating of Amgen AMGN and raise its price target from $255.00 to $260.00.

Shares of Amgen are trading down 5.5% over the last 24 hours, at $235.12 per share.

A move to $260.00 would account for a 10.58% increase from the current share price.

About Amgen

Amgen is a leader in biotechnology-based human therapeutics, with historical expertise in renal disease and cancer supportive care products. Flagship drugs include red blood cell boosters Epogen and Aranesp, immune system boosters Neupogen and Neulasta, and Enbrel and Otezla for inflammatory diseases. Amgen introduced its first cancer therapeutic, Vectibix, in 2006 and markets bone-strengthening drug Prolia/Xgeva (approved 2010) and Evenity (2019). The acquisition of Onyx bolstered the firm's therapeutic oncology portfolio with Kyprolis. Recent launches include Repatha (cholesterol-lowering), Aimovig (migraine), Lumakras (lung cancer), and Tezspire (asthma). Amgen's biosimilar portfolio includes Mvasi (biosimilar Avastin), Kanjinti (biosimilar Herceptin), and Amgevita (biosimilar Humira).

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This article was generated by Benzinga's automated content engine and reviewed by an editor.