Argus raised the firm’s price target on Amgen to $360 from $340 and keeps a Buy rating on the shares. Amgen has a strong pipeline of potential new products, as well as a rapidly growing portfolio of existing products that saw volume growth of 26% during the second quarter, the analyst tells investors in a research note. Argus expects future revenue to benefit from newly launched drugs, biosimilars, and products acquired from M&A and in-licensing.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AMGN:
- U.S. to announce prices for drugs in Medicare negotiations, NY Times says
- Ardelyx appoints Foster as Chief Commercial Officer
- Disney, CVS headline busy day of earnings: Wednesday Buzz
- Disney, Airbnb dip despite quarterly beats: Morning Buzz
- Arm upgraded, Molson Coors downgraded: Wall Street’s top analyst calls