Amgen "outperform"

12/01/05 - Robert W. Baird

NEW YORK, December 1 (newratings.com) - Analysts at Robert W Baird reiterate their "outperform" rating on Amgen Inc (AMGN). The target price is set to $85.

In a research note published this morning, the analysts mention that there is concern surrounding the 2006 QOC Demonstration Project. The analysts believe, however, that the sales of Amgen’s Aranesp would be boosted by an increasingly binary market, given the company’s competitive leverage from offering Aranesp, Neupogen and Neulasta, and its substantial use of rebates and performance-based agreements. Robert W Baird estimates the global sales of Aranesp at $3.87 billion for 2006.