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Biotech / Medical : Biotech Short Candidates -- Ignore unavailable to you. Want to Upgrade?

To: keokalani'nui who wrote (173)	1/23/2002 1:00:35 PM
From: tuck	Respond to of 897

I still think AMGN's market cap is too big for the earnings expected, but more informed minds disagree? Wonder if Merril Lynch did any underwriting for AMGN . . . In any case, Mr. Hecht's views provide some concrete benchmarks by which to measure AMGN's earnings and CC today: >>NEW YORK, Jan 23 (Reuters) - Merrill Lynch on Wednesday said it raised its intermediate-term rating on shares of biotechnology firm Amgen Inc. (NasdaqNM:AMGN - news) to ``strong buy'' from ''buy'' and predicted the company would report positive fourth-quarter results after the close. Analyst Eric Hecht, noting the stock's recent weakness, reiterated a one-year price objective of $76 per share and said Amgen should report positive earnings on Wednesday with strong sales across all product lines. He said he also expected the company to report that its anemia drug Aranesp is gaining traction in the European market. ``Amgen's pipeline has never looked better, in our view,'' Hecht wrote in a research note. He said the company is positioned to launch at least one new product a year for the next five years. ``Kineret is ready for launch, Immunex's EGF antagonist now looks well positioned, and Amgen has important products in late stages of development for lymphoma, dialysis patients and complications of chemotherapy,'' Hecht wrote. Shares of Amgen were up $1.01, or 1.8 percent, at $57.07 in morning trading on the Nasdaq market, off a recent peak in December of $69.<< ImClone . . . drat, I was sooo close to pulling the trigger on that one. Shoulda, coulda, woulda. Cheers, Tuck