Jefferies ‘optimistic’ about Amgen PRMT5 data following embargo

Jefferies notes that Amgen’s PRMT5 late-breaker abstract was slated to be release yesterday, but according to the Triple meeting website, it seems the abstract and data are embargoed until Friday, October 13, at 9:45 am, likely as part of the media/press program. This is likely perceived as having a positive read-through and the “data should be decent,” says the analyst, who is “optimistic there will be multiple responses, including in lung, which could ultimately be a blockbuster market.” Jefferies has a Buy rating and $310 price target on Amgen shares.