Bernstein cuts Amgen PT on uncertainty over obesity drug candidate MariTide

Bernstein cuts PT on drugmaker Amgen AMGN.O to $350 from $380, citing uncertainty over co's key obesity drug candidate MariTide

New PT is nearly a 19% upside to stock's last close

Brokerage says MariTide is a higher-risk-and-high-reward opportunity

Adds obesity pipeline is advancing but tolerability issues remain

"We won't yet see the combined impact of the optimized dosing paradigm on weight loss and adverse events at ADA (American Diabetes Association)," says brokerage

Fifteen of 32 brokerages rate stock "buy" or higher, 14 "hold", and 3 "sell" or lower; median PT is $324 - data compiled by LSEG

AMGN stock up 12.9% YTD, as of last close; it fell 9.5% in 2024