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.
本周二，安进公司（NASDAQ:AMGN）公布了喜忧参半的第二季度财报。
BMO资本市场表示，“安进公司的商业季度表现一般，凸显了肥胖和炎症性疾病即将发布的临床研究报道的重要性。” 该分析师保持“强于市场”评级，目标价为362美元。
分析师指出，尽管公司的基本业务表现不佳（与共识相比，恩布罗 -6％，雷帕妥 -1％），但其增长组合也有一定的优势。然而，他们预计Horizon资产将取得更大的增长势头，而Tepezza仅比共识高出1％。
派杰投资指出，尽管业绩报告表现不佳，但分析师仍然对MariTide在肥胖市场上的潜力持乐观态度。但是，投资者对缺乏新消息感到失望，因为管理层决定在2024年结束前不提供更多细节。
Piper分析师补充说，“总的来说，虽然我们认识到这家公司的商业组合的某些方面已经过时了一段时间，但MariTide在我们看来具有真正差异化的潜力，因此值得拥有。” 该分析师保持“超重”评级，目标价为344美元。
Oppenheimer表示，“MariTide相对于竞争对手具有差异化的特点，我们认为安进公司处于良好地执行规模的位置，包括计划扩大制造业能力。”
该分析师还看到了与心血管疾病 (CVD) 诊疗计划的潜在协同作用，包括Repatha和Olpasiran。 他保持“强于市场”评级，目标价为380美元。
高盛认可安进最近的业绩表现 (+12％ vs. S&P 500 MTD) 并对其持高度乐观态度。
该分析师期望在肥胖数据发布的积极反弹下，股票将进一步上扬，这不仅反映出潜在的营收机会，同时还将重新评估，因为这将缓解人们有关这一十年下半年营收替代的担忧。
高盛重申买入评级，目标价从350美元上调至370美元。
价格走势： 截至周三收盘，AMGN股价下跌 6.67%，报 307.00 美元。
