Truist analyst Robyn Karnauskas lowered the firm’s price target on Amgen to $260 from $280 and keeps a Hold rating on the shares. The analyst is updating the firm’s model to reflect the company’s Q4 results and FY23 guidance, stating that while Amgen expects volume growth driven by Tezspire, Evenity, Repatha, Prolia and Tavneos with mid-single-digit prices declines in the portfolio in 2023, it is also facing an ongoing erosion for Neulasta and oncology biosimilars.
Published first on TheFly
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