Cantor Fitzgerald Sticks to Its Hold Rating for Amgen Inc (AMGN)

By Austin Angelo

Cantor Fitzgerald analyst Alethia Young reiterated a Hold rating on Amgen Inc (AMGNResearch Report) today and set a price target of $221. The company’s shares closed on Friday at $189.98.

Young wrote:

“. We Reiterate our Neutral rating and $221 Price Target. We are attending the AACR (cancer research meeting) in Atlanta. Amgen presented its preclinical data for 24-minute session. The company’s molecule is targeting the KRAS p.G12C mutation and is a covalent inhibitor. The presentation explained how it identified a unique groove formed by rotation of an adjacent histidine residue (H95). An inactive form of KRAS reveals a small pocket P2 in GDP-KRAS, which is adjacent to cys12. The molecule binds to P2 and H95 and is expected to be dosed orally once daily. 510 has single-digit nanomolar potency and is 1,000x more selective to other KRAS mutants.”

According to TipRanks.com, Young is a 5-star analyst with an average return of 8.9% and a 50.9% success rate. Young covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, Vertex Pharmaceuticals, and Sarepta Therapeutics.

Currently, the analyst consensus on Amgen Inc is a Moderate Buy with an average price target of $215.58.

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The company has a one-year high of $210.19 and a one-year low of $163.31. Currently, Amgen Inc has an average volume of 3.06M.

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