Truist raises Amgen PT on expected Q1 beat, obesity focus

Brokerage Truist Securities raises drugmaker Amgen's AMGN.O PT to $325, a 4.4% downside to stock's last close, from $319; keeps "hold" rating ahead of Q1 results

Expects modest revenue, EPS beat for Q1; revenue outlook at $9.18 bln vs consensus $8.58 bln and non-GAAP EPS of $5.24 vs $4.77

"At the Q1 EPS we expect continued interest into MariTide and AMGN's broad obesity strategy for the potential launch in 2027" - Truist

Anticipates Q1 discussion on autoimmune drug Uplizna, rare disease pipeline updates, possible M&A commentary

Raises penetration outlook for gout drug Krystexxa on patent protection through 2040

16 of 37 analysts rate "buy" or higher, 18 "hold", 3 "sell"; median PT $351.50 - data compiled by LSEG

As of last close, stock up 3.9% YTD