UBS Assumes Amgen (AMGN) at Buy

UBS analyst Michael Yee assumes coverage on Amgen (NASDAQ: AMGN) with a Buy rating and a price target of $380.00.

The analyst comments "We assume coverage at BUY based on upside from EPS and pipeline from MariTide in obesity in Phase III + new Lp(a) CV drug in Phase III - both of which should come to market and drive growth to the end of the decade. Our forecast reflects execution and growth even through the $5B denosumab biosimilar launches occurring in 2026, which proves they can grow even through their largest biosim LOE. Based on our discussions w/ mgmt and our own forecasts - we see solid growth in 2026 as well. In large biotech, we favor companies with low LOE risk and/or manageable erosion and the ability to grow without a trough EPS issue. We see this with AMGN, proving this with Dmab in 2026 (the largest of their various LOEs) and yet larger pipeline drugs coming, including Phase III LP(a) and Phase III MariTide GLP-1 monthly."

For an analyst ratings summary and ratings history on Amgen click here. For more ratings news on Amgen click here.

Shares of Amgen closed at $320.72 yesterday.

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