Amgen price target lowered to $253 from $276 at BMO Capital

BMO Capital analyst Evan Seigerman lowered the firm’s price target on Amgen (AMGN) to $253 from $276 and keeps a Market Perform rating on the shares. The company’s guidance miss on top and bottom-lines is a step away from, rather than toward, its 2030 revenue guidance, and BMO’s model reflects Amgen’s "uneventful update", the analyst tells investors in a research note. The firm adds however that it prefers to wait until Horizon Therapeutics’ (HZNP) revenues – acquired by Amgen – go live before reconsidering its Market Perform rating.