PFE - Amgen's Upcoming Catalysts In 2024 Set To Unlock Multi-Billion Dollar Markets Says Goldman Sachs | Benzinga
Amgen Inc (NASDAQ:AMGN) is expected to unveil updates on various programs this year, targeting significant markets.
Despite concerns about the company’s long-term growth amid exclusivity losses, Goldman Sachs notes that Amgen (Buy rating, $350 price target) is seen as well-positioned to capitalize on multi-billion dollar opportunities.
The current stock valuation is slightly above the base business, per the discounted cash flow model, and indicates a favorable risk-reward scenario leading up to upcoming catalysts.
The upcoming catalysts include obesity, with MariTide Phase 2 data expected in late 2024.
Read Next: Amgen’s Blockbuster Osteoporosis Drug Prolia Flagged With FDA Strictest Warning.
Earlier this month, Amgen had the data from animal and early-stage human trials of its experimental obesity drug AMG 133 (maridebart cafraglutide) published in Nature Metabolism.
The ...