AMGN and BGEN have been strong performers, AMGN has given us 2 opportunities to buy it at it's 200 dma in the last 18 months.
I notice that they are on SSB's 10 stocks list as well.
Salomon Smith Barney 1999-2000 TEN+ List
Brief: Biotechnology July 20, 1999
US07G220
(AMGN, 1-H)
Price $73.44 Dividend N/A
12-Month Range $80-$30 Yield N/A
EPS 2000E $2.26 P/E 2000E 30.7x
EPS 1999E $1.96 P/E 1999E 35.3x
EPS 1998A $1.63 5-YR. EPS Growth 20%
Since we selected Amgen for the SSB TEN+
List, the company reported a major upside EPS
surprise for 2Q99. The strength of the quarter
prompted us to raise our EPS estimates for 1999,
2000, and 2001. We also raised our price target
to $112 from $100.
Amgen has two blockbusters, Epogen and
Neupogen, both of which have annual sales of
over $1 billion. We expect strong sales growth
for both
.
Two Late-Stage Products Expected to Hit the
Market in 2001. 1) NESP, a second-genera-
tion EPO, is currently in phase III trials. 2)
Abarelix, an antagonist of GnRH, is currently in
phase III trials in prostate cancer.
Promising Pipeline. Amgen has a broad prod-
uct pipeline which includes sustained-duration
Neupogen, second-generation leptin for obesity,
sTNF-R1/IL-1 for RA and neuroimmunophilins
initially for Parkinson's. |
