Stocks
Oppenheimer Sticks to Bullish Amgen Call After Positive Trial Data
Oppenheimer has reaffirmed its Outperform rating for Amgen Inc. (), citing positive clinical trial results for dazodalibep, a treatment for systemic Sjögren's disease.
The firm believes these results are encouraging given the challenging nature of the disease and provide a favorable setup for an upcoming study in a different patient population.
Oppenheimer views dazodalibep as undervalued at current levels, with 13 analysts recently revising earnings upward. The company trades at a PEG ratio of 0.79, indicating attractive value relative to growth.