‘Neutral’ Rating For Amgen (AMGN)

M. Ian Somaiya and Sasha Blaug, analysts at Piper Jaffray, have given a ‘Neutral’ rating to Amgen (NASDAQ: AMGN), which develops treatments for anemia, cancer, & other diseases.

The target price is at $61.00 and the stock has been trading at $54.34.

Phase III studies of Denosumab have demonstrated the efficacy of the drug in cancer treatment. Yet analysts are guarded as the company is going to sell the drug at a lower price in the UK. A low pricing in the UK can force the company to keep the price low in the whole of Europe, which can reduce revenues.