Amgen price target raised to $280 from $260 at Argus

Argus analyst Jasper Hellweg raised the firm’s price target on Amgen to $280 from $260 and keeps a Buy rating on the shares. The analyst expects the company to post stronger revenue growth over the next year as increased visits to physicians’ offices and new patient diagnoses boost prescriptions of oncology drugs. Amgen’s revenue should also benefit from newly launched drugs, biosimilars, and products acquired from M&A and in-licensing, the firm tells investors in a research note.