RBC Reduces Target (TGT) Valuation After In-Line Results and Updated Model

On December 3, BMO Capital’s Evan Seigerman accrued the firm’s terms people connected Amgen Inc. (NASDAQ:AMGN) to $372 from $335 and reiterated an Outperform rating. The expert noted that the information from the Maritide Phase 2 Part 2 survey could enactment further stock gains beyond Amgen’s commercialized show successful 2025. This update is considered the astir important objective milestone remaining for the institution adjacent twelvemonth and whitethorn assistance clarify MariTide’s imaginable arsenic a attraction treatment.

BMO said the higher terms people reflects a greater assumed profitability of occurrence for MariTide and the benefits Amgen has gained from a much favorable macro environment.

Amgen Inc. (NASDAQ:AMGN) full gross roseate 12% YoY to $9.6 cardinal successful the caller quarter. Several large medicines, including Repatha, which lowers harmful cholesterin levels, and the asthma therapy Tezspire, delivered beardown results successful the period. The institution besides continues to beforehand a robust pipeline that is expected to enactment caller merchandise approvals successful the coming years.

Amgen Inc. (NASDAQ:AMGN)’s currency presumption besides remained healthy. The institution generated $4.2 cardinal successful escaped currency travel during the 3rd 4th of 2025, compared with $3.3 cardinal successful the aforesaid 4th of 2024. The betterment was supported by moving superior timing and little involvement expenses, partially offset by accrued superior spending. The institution has besides raised its dividends for 14 years successful a row.

Amgen Inc. (NASDAQ:AMGN) is simply a biotechnology institution that discovers, develops, manufactures, and supplies innovative treatments for superior aesculapian conditions.

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Disclosure: None.