Amgen, the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Evan Seigerman from BMO Capital maintained a Buy rating on the stock and has a $335.00 price target.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Evan Seigerman has given his Buy rating due to a combination of factors that highlight Amgen’s strong financial performance and growth potential. The company reported significant beats on both revenue and earnings, surpassing consensus expectations by 7% and 12% respectively. This strong performance was driven by impressive sales from key products such as Imdelltra, Tepezza, and Prolia, which all exceeded market forecasts.
Furthermore, Amgen’s ability to increase its full-year revenue and earnings guidance reflects confidence in its ongoing commercial execution and operational efficiency. The growth of base business assets like Repatha and Evenity, alongside emerging products, supports a positive outlook. Additionally, the potential for strategic business development and improved product profiles, such as MariTide, adds to the optimistic view of Amgen’s future prospects.