Amgen price target raised to $280 from $266 at Truist

Truist analyst Robyn Karnauskas raised the firm’s price target on Amgen to $280 from $266 and keeps a Hold rating on the shares. The analyst cites the AHA presentation on updated Repatha long-term data showing significant and sustained LDL-C reduction and updates from earlier pipeline compound. These compounds could yield significant pipeline upside later in the decade and highlight Amgen’s deCODE Genetics platform paying off, Karnauskas tells investors in a research note.