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A Look at Amgen's Long-Term Growth Drivers

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A Look at Amgen's Long-Term Growth Drivers PART 1 OF 6

Analysts’ Recommendations for Amgen in October 2017

Recent collaborations

In October 2017, Amgen (AMGN) entered into a strategic collaboration with CytomX Therapeutics (CTMX) for the development of immune-oncology products. Amgen and CytomX Therapeutics plan to jointly develop a CytomX Probody T-cell engaging bispecific antibody against EGFR (Epidermal Growth Factor Receptor). EGFR is a validated oncology target that expresses in multiple human cancer types.

By the terms of the agreement, Amgen and CytomX Therapeutics would jointly develop the Probody T-cell engaging bispecific antibody against EGFRxCD3. CytomX Therapeutics would lead the early development. Amgen is required to pay an upfront payment of $40 million and also purchase $20 million in common stock of CytomX Therapeutics.

Analysts’ Recommendations for Amgen in October 2017

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By the terms of the agreement, Amgen would lead global commercialization activities while CytomX would be able to opt into profit sharing in the US market and also receive royalties on total sales outside the US market.

Analysts’ recommendations

Of the 24 analysts tracking Amgen (AMGN) in October 2017, ~42% of the analysts recommended some form of a “buy” rating while the rest suggested a “hold.” On October 5, Amgen had a consensus 12-month target price of ~$189.35, which represents an ~0.40% return on investment.

The SPDR S&P 500 ETF (SPY) invests ~0.63% of its total portfolio holdings in Amgen.

Competitors’ ratings

Of the 23 analysts tracking Johnson & Johnson (JNJ) in October 2017, ~43% of the analysts recommended some form of a “buy” rating. Ten analysts suggested a “hold,” two analysts suggested a “sell,” and one analyst recommended a “strong sell.”

On October 5, Johnson & Johnson had a consensus 12-month target price of $137.60, which represents an ~3.5% return on investment.

Of the 22 analysts tracking Pfizer (PFE) in October 2017, ~55% of the analysts suggested some form of a “buy” rating. Nine of them suggested a “hold,” and one analyst suggested a “strong sell.”

On October 5, Pfizer had a consensus 12-month target price of $37.90, which represents an ~5.4% return on investment.

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