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Piper Sandler Raises Price Target on Amgen Amid Overvaluation Concerns
Piper Sandler maintained an Overweight rating on Amgen AMGN and raised its price target to $457.00 from $427.00, a 7.03% increase.
The firm's decision reflects confidence in Amgen's growth prospects and revenue generation from its diverse portfolio of biotechnology-based therapeutics.
Amgen is a leader in the biotechnology sector, specializing in developing human therapeutics with a market capitalization of approximately $235.64 billion.