Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Upcoming pipeline catalysts as well as earnings visibility through the back half of 2016 would likely drive Amgen, Inc’s (NASDAQ: AMGN) multiple, Goldman Sachs’ Terence Flynn said in a report. He maintained a Buy rating on the company, with a price target of $204.
Pipeline Catalysts
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Amgen is launching a number of new drugs, including Repatha, Corlanor, Blinctyo and Imlygic. The company is also in the process of securing label expansions for Kyprolis.
Positive data from Repatha’s ongoing Phase III cardiovascular outcomes trial, likely in 1Q17, and future updates to guidelines are expected to “drive an inflection in the launch trajectory,” analyst Flynn stated. He estimated peak sales of $4 billion.
“In 2H16 we expect AMGN to report data from an ongoing Ph3 trial of Repatha designed to evaluate the drug’s impact on coronary plaque volume via intravascular ultrasound (IVUS). In our view if the Repatha IVUS data are positive, it will serve as an additional piece of data to support that the drug will likely have a beneficial impact on lowering CV events in Ph3,” Flynn wrote.
Moreover, Amgen’s late-stage pipeline is progressing, with Phase III data for Erenumab in episodic migraine expected in the back half of this year. Success of Erenumab and Omecamtiv would result in upward revisions to the estimates, the analyst noted.
Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email feedback@benzinga.com with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.