Guggenheim Adjusts Amgen Inc. (AMGN) PT to $351, Cites Updated Model Ahead of Earnings

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Guggenheim has increased its price target for Amgen Inc. (AMGN) to $351 from $347, maintaining a Neutral rating, as it updates its financial model before the company’s first-quarter earnings release on April 30. Separately, Amgen announced positive Phase 3 results for TEPEZZA’s subcutaneous delivery in thyroid eye disease, demonstrating comparable efficacy and improved convenience over the intravenous form. The article also notes Amgen’s position as a leading biotechnology company, though it suggests other AI stocks might offer greater return potential.

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