UPDATE: Deutsche Bank Reiterates On Amgen On Potential Of New Drugs

In a report published Wednesday, Deutsche Bank analyst Robyn Karnauskas reiterated a Buy rating on Amgen (NASDAQ: AMGN), and raised the price target from $190.00 to $192.00.

In the report, Deutsche Bank noted, “85.1% of pts in the high-dose arm and 69.2% of pts in the low dose arm achieved PASI75 vs.69.3% of pts in the Stelara arm and 6% on placebo. We note that a significantly greater proportion of pts treated w/ brodalumab achieved clear or almost clear skin by wk 12 vs. Stelara or Placebo according to the Physician Global Assessment (details were not disclosed). AMAGINE-1 showed PASI75 in 83% 210mg treated pts vs 2.7% placebo (in line with AMAGINE-3). The most common AE in the treatment group were common cold, joint pain, upper respiratory infection and headache. Given this and prior safety data we do not see any safety issue.”

Amgen closed on Tuesday at $162.42.