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Analysts at Jefferies on Friday, March 28, 2014, released its new price target regarding Amgen
AMGN.
Equity analyst Eun K. Yang at Jefferies led the research and raised their price target from $138.00 to $145.00 per share.
From the 48 cardiologists' surveys taken, Jeffries is increasing its United States and European Union sales estimates for 2017-2020 by 22 to 49 percent. According to Jeffries, this new estimate reflects its broad use in hypercholesterolemia.
Jeffries now estimates sales to be at approximately $1.7 billon in 2019, this is up $0.5 billion from its estimate of $1.2 billion.
The price target issued by Jeffries is based on:
• 1 P/E multiple of ~16x (2015 P/E for big pharma) to our 2015 EPS forecast of $9.26, discounting at 10 percent.
• 2 sum-of-the parts NPV analysis. Risks associated with Amgen include pricing pressure, competition, and regulatory delays/failure of evolocumab (AMG-145)
Shares of Amgen are currently trading at $120.55 as of Friday, March 28, 2014.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
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