Citigroup Maintain Buy, $73 PT on Amgen

Citigroup reiterates its Buy rating and $73 price target on Amgen (NASDAQ: AMGN) as it tracks weekly sales of Prolia and Xgeva.

Citigroup notes, "Our analysis of weekly IMS scrips suggests that US Prolia sales are tracking at $46.2M vs. Citi Q4 ests of $38M. IMS scrip data indicates that Prolia TRx is tracking up 44.6% q/q. This is based on eleven of the total 13 weeks for Q4. Please see Figures 1 and 2. ...Our analysis of weekly IMS scrips suggests that US Xgeva sales are tracking at $144.0M vs. Citi Q4 ests of $122M. IMS scrip data indicates that Xgeva TRx is tracking up 38.7% q/q. This is based on eleven of the total 13 weeks for Q4. Please see Figures 3 and 4."

AMGN closed at $63.69 per share on Friday.