Oppenheimer Maintains Outperform on Amgen

Oppenheimer is out with its report today on Amgen AMGN, maintaining Outperform. In a note to clients, Oppenheimer writes, "While the company is facing a number of regulatory and competitive headwinds, we believe revenues from Amgen's core franchises are nearing stabilization. We believe Amgen's near-term growth will be driven by sales of denosumab, a novel treatment for bone loss. Additionally, we believe denosumab's market opportunity in osteoporosis and oncology indications such as SRE prevention and bone mets prevention are undervalued." Oppenheimer maintains a $66 PT on AMGN. Shares of AMGN closed Monday at $57.88, up 1.47% from Friday's close.