Piper Sandler analyst Christopher Raymond raised the firm’s price target on Amgen (AMGN) to $299 from $297 and keeps an Overweight rating on the shares after the company reached a deal to buy Horizon Therapeutics (HZNP). The analyst states that he sees measurable earnings accretion beginning in 2024 and a solid increase in the revenue trajectory by over 400bps by bolting this business onto Amgen’s existing infrastructure.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on AMGN:
- Mirati (NASDAQ:MRTX) Stock Jumps as FDA Approves Lung Cancer Drug
- AMGEN ANNOUNCES 10% INCREASE IN 2023 FIRST QUARTER DIVIDEND
- Horizon Therapeutics downgraded to Equal Weight from Overweight at Wells Fargpo
- Horizon Therapeutics downgraded to Hold from Buy at Stifel
- Amgen (NASDAQ:AMGN) to Buy Horizon for $27.8B; HZNP Stock Rallies