On Tuesday, Amgen Inc. (NASDAQ:AMGN) reported mixed second-quarter results.
BMO Capital Markets writes, "A commercially in-line quarter for Amgen underscores the importance of upcoming clinical readouts in obesity and inflammatory disease." The analyst keeps the Outperform rating with a price target of $362.
The analyst notes that while the company's base business underperformed (Enbrel -6% and Repatha -1% compared to consensus), its growth portfolio had some strength. However, they anticipate greater momentum from Horizon assets, with Tepezza exceeding consensus by just 1%.
Piper Sandler notes that despite mixed results, the analyst remains optimistic about MariTide's potential to stand out in the obesity market. However, investors were disappointed by the lack of new information, as management has decided not to provide further details before the year-end 2024 Phase 2 readout.
"All-in, while we recognize some aspects to this company's commercial portfolio has been long in the tooth for some time, the potential for a truly differentiated MariTide profile makes this name worth owning, in our view," Piper analyst adds and maintains the Overweight rating with a price target of $344.
Oppenheimer writes, "MariTide represents a differentiated profile vs. competitors, and we see Amgen as well-positioned to execute at scale including planned expansion of manufacturing capacity."
The analyst also sees potential synergies with cardiovascular disease (CVD) programs, including Repatha and Olpasiran. Maintains the Outperform rating with a price target of $380.
Goldman Sachs acknowledges the recent outperformance (+12% vs. S&P 500 MTD) and remains highly constructive on Amgen.
The analyst expects the stock to inflect further on positive obesity data, not only to reflect the potential revenue opportunities but also to re-rate, given this would alleviate concerns around revenue replacement in the second half of the decade.
Goldman reiterates the Buy rating with a price target of $370, up from $350.
Price Action: AMGN stock is down 6.67% at $307.00 at last check Wednesday.
本週二，安進公司（NASDAQ:AMGN）公佈了喜憂參半的第二季度業績。
BMO資本市場表示，「安進公司的商業季度表現一般，凸顯了肥胖和炎症性疾病即將發佈的臨床研究報道的重要性。」 該分析師保持「強於市場」評級，目標價爲362美元。
分析師指出，儘管公司的基本業務表現不佳（與共識相比，恩布羅 -6％，雷帕妥 -1％），但其增長組合也有一定的優勢。然而，他們預計Horizon資產將取得更大的增長勢頭，而Tepezza僅比共識高出1％。
派傑投資指出，儘管業績報告表現不佳，但分析師仍然對MariTide在肥胖市場上的潛力持樂觀態度。但是，投資者對缺乏新消息感到失望，因爲管理層決定在2024年結束前不提供更多細節。
Piper分析師補充說，「總的來說，雖然我們認識到這家公司的商業組合的某些方面已經過時了一段時間，但MariTide在我們看來具有真正差異化的潛力，因此值得擁有。」 該分析師保持「超重」評級，目標價爲344美元。
Oppenheimer表示，「MariTide相對於競爭對手具有差異化的特點，我們認爲安進公司處於良好地執行規模的位置，包括計劃擴大製造業能力。」
該分析師還看到了與心血管疾病 (CVD) 診療計劃的潛在協同作用，包括Repatha和Olpasiran。 他保持「強於市場」評級，目標價爲380美元。
高盛認可安進最近的業績表現 (+12％ vs. S&P 500 MTD) 並對其持高度樂觀態度。
該分析師期望在肥胖數據發佈的積極反彈下，股票將進一步上揚，這不僅反映出潛在的營收機會，同時還將重新評估，因爲這將緩解人們有關這一十年下半年營收替代的擔憂。
高盛重申買入評級，目標價從350美元上調至370美元。
價格走勢： 截至週三收盤，AMGN股價下跌 6.67%，報 307.00 美元。
