Amgen Stock Price: $275 Target (Up From $266) By Oppenheimer

By Amit Chowdhry ● April 6, 2021
  • The shares of Amgen, Inc. (NASDAQ: AMGN) have received a price target increase from $266 to $275 by Oppenheimer. These are the details.

The shares of Amgen, Inc. (NASDAQ: AMGN) have received a price target increase from $266 to $275 by Oppenheimer. And Oppenheimer analyst Jay Olson is maintaining an “Outperform” rating on the company shares.

Olson pointed out that Tezepelumab for severe asthma NDA/MAA are being planned for the first half of this year. And this could expand into chronic obstructive pulmonary disease (COPD) and urticaria.

Plus Olson has been encouraged by olpasiran, a small interfering RNA (siRNA) that inhibits Lp(a) for Atherosclerotic Cardiovascular Disease (ASCVD) patients with an ongoing Phase 2 trial. Olson forecasted risk-adjusted olpasiran sales of $1.5 billion in 2030. 

Some of the other value drivers for the company included bemarituzumab from the Five Prime acquisition, the BiTE program, inflammation candidates, and biosimilars.

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