Analyst raises AMGN target by $8 to $303 after revising valuation model following first-quarter results review.
Mizuho analyst Salim Syed increased Amgen Inc.’s price target to $303 from $295, maintaining a Neutral rating on the stock. The adjustment follows an update to the firm’s valuation model after evaluating the company’s first-quarter performance.
Amgen recently presented Phase 3 clinical data at the ADA Scientific Sessions, showing Repatha reduced major cardiovascular events by 29% in high-risk diabetes patients. The treatment also lowered LDL-C levels to a median of 45 mg/dL compared with 106 mg/dL for placebo.
The biotech firm remains a focus in the weight-loss drug sector, with investor interest growing amid broader market trends in cardiometabolic therapies.