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Analysts’ Recommendations for Amgen in January 2018

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Recent developments

In January 2018, the European Medical Agency (or EMA) accepted the Marketing Authorization Application (or MAA) for Amgen’s (AMGN) and UCB’s Evenity. Evenity was accepted for the treatment of osteoporosis in postmenopausal women and in men who are at increased risk of fracture.

The EMA’s acceptance of MAA for Amgen’s Evenity is based on the results of the three Phase 3 trials—FRAME trial, ARCH trial, and BRIDGE trial.

The Phase 3 FRAME trial constituted 7,180 postmenopausal women with osteoporosis. The Phase 3 ARCH trial included 4,093 postmenopausal women with osteoporosis who are at increased risk of fracture and Phase 3 BRIDGE trial, which included 254 men with osteoporosis.

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Analysts’ recommendations

Twenty-six analysts are tracking Amgen in January 2018. Four analysts recommended a “strong buy” while seven analysts recommended a “buy.” Fifteen analysts recommended a “hold.”

On January 9, 2018, Amgen had a consensus 12-month target price of $192.14, which represents an ~6.4% return on investment over the next 12 months.

The iShares NASDAQ Biotechnology ETF (IBB) invests ~0.14% of its total portfolio holdings in Amgen.

Peers’ ratings

Of the 24 analysts tracking Johnson & Johnson (JNJ) in January 2018, ~50.0% recommended some form of a “buy” rating. On January 9, 2018, Johnson & Johnson had a consensus 12-month target price of $147.77, which represents a 4.1% return on investment over the next 12 months.

Of the 24 analysts tracking Bristol-Myers Squibb (BMY) in January 2018, ~42.0% recommended some form of a “buy” rating. On January 9, 2018, Bristol-Myers Squibb had a consensus 12-month target price of $64.00, which represents an ~2.1% return on investment over the next 12 months.

Of the 21 analysts tracking Abbott Laboratories (ABT) in January 2018, ~81.0% of the analysts recommended some form of a “buy” rating. On January 9, 2018, Abbott Laboratories had a consensus 12-month target price of $63.56, which represents an ~8.1% return on investment over the next 12 months.

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