BUZZ - Market Watch: Catalysts in the development pipeline are key to Amgen's growth

November 4 - ** Amgen (AMGN.O) reported (link) an 8% increase in third quarter sales, driven by new drugs and the cholesterol-lowering medication Repatha, despite a significant decline in sales of some older drugs.

** Shares rose slightly in pre-market trading

R&D pipeline is progressing smoothly

** Morgan Stanley (maintains “Neutral” rating, price target: $410) stated that the next catalyst for the stock will be late-stage clinical trial results for its experimental Sjögren's syndrome treatment dazodalibep and weight-loss drug MariTide.

** JPMorgan (“Neutral” rating, price target: $425) pointed out that although the stock has performed strongly in recent months, “we believe the current situation remains balanced: the cancer drug Imdelltra is expected to become an asset worth more than $5 billion, and dazodalibep is also about to achieve a breakthrough in Sjögren's syndrome treatment.”

** Jefferies (“Hold”, price target: $428) commented that the core business remains strong, but the catalyst effect from the recent pipeline developments is worth noting.

** TD Cowen (“Buy”, price target: $531) is optimistic about the stock due to its robust commercial growth portfolio and differentiated advantages in its late-stage R&D pipeline.

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