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Research Alert: CFRA Keeps Buy Rating On Shares Of Amgen Inc.

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CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lower our target price from $398 to $380, based on 16.4x our 2027 EPS estimate, above AMGN's 10-year historical forward average of 14.1x. We cut our 2026 EPS view to $22.45 from $22.56. We keep our 2027 EPS at $23.23. Based on various media reports, AMGN's rare disease drug Tavneos, used to treat ANCA-associated vasculitis in adults, an autoimmune condition where the immune system attacks small blood vessels, has been allegedly linked to 20 deaths in Japan since 2022. On April 27, the U.S. FDA proposed withdrawing the drug's approval, which was granted in 2021, due to concerns over its safety profile and initially disclosed study data. With $119M in global sales in Q1 2026, Tavneos made a very small portion (1.4%) of AMGN's quarterly revenue of $8.62B. Therefore, should AMGN decide to withdraw the drug from the market, we think the financial impact would be manageable. Tavneos entered AMGN's portfolio via the $3.7B acquisition of ChemoCentryx in 2022.

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