Amgen Inc (AMGN): New Buy Recommendation for This Healthcare Giant

By Austin Angelo

In a report released today, Jay Olson from Oppenheimer maintained a Buy rating on Amgen Inc (AMGNResearch Report), with a price target of $224. The company’s shares closed yesterday at $192.43.

Olson said:

“Preclinical data on AMGN’s small molecule KRAS inhibitor (AMG-510) was a highlight of AACR. The compound is currently in Ph1 with initial clinical data expected in 2Q19. In several posters and presentations, AMGN disclosed the structure and binding mechanism at Cys12. In vitro assays showed reduced downstream signaling of ERK and MEK. A screen in cysteine-containing peptides showed high selectivity for KRASG12C. AMG-510 showed dose dependent impairment of cell viability in several KRASG12C dependent cell lines. CT-26 mouse model, AMG-510 inhibits tumor growth in a dose dependent fashion and reduces p-ERK. AMG-510 was studied in preclinical combinations with MAP/PI3K pathway inhibitors, a MEK inhibitor, carboplatin, and PD-1 antibody. The presentations suggest clinical development may focus on combinations. Details inside.”

According to, Olson has 0 stars on 0-5 star ranking scale with an average return of -2.5% and a 43.4% success rate. Olson covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Conatus Pharmaceuticals, and Enanta Pharmaceuticals.

Currently, the analyst consensus on Amgen Inc is a Moderate Buy with an average price target of $215.58, which is a 12.0% upside from current levels. In a report issued on March 22, Mizuho Securities also assigned a Buy rating to the stock with a $208 price target.

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Amgen Inc’s market cap is currently $121.2B and has a P/E ratio of 15.26. The company has a Price to Book ratio of 9.69.

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