Street View: Amgen banks on pipeline depth and long term weight-loss play
Amgen AMGN.O on Tuesday reported fourth-quarter financial results that came in ahead of Wall Street expectations and the company continues to express confidence in experimental weight-loss drug MariTide
At least six brokerages raise PT on the stock following results
VOLUME GROWTH A KEY DRIVER
Morgan Stanley ("equal weight," PT: $309) says new launches and pipeline progress remain the "focus on the forward" for the stock
William Blair ("outperform") says "MariTide still a major focus but we still think not much new to debate until Phase III results in 2027"
TD Cowen ("buy," PT: $420) says volume would be a key driver into FY26 and beyond
"Competitive pricing appears to be securing favorable formulary positions and driving broad usage, a dynamic we expect to persist" - TD Cowen
RBC Capital Markets ("outperform," PT: $360) says "overall, we continue to like a highly diversified business and an impressive track record of commercial execution, but we are also eager to see additional data for MariTide to better understand where AMGN can fit in the broader competitive landscape for obesity"
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