Amgen's Rocatinlimab Has Commercial Potential Despite Competitive Landscape, Says Goldman Sachs
Portfolio Pulse from Vandana Singh
Amgen's Phase 3 trial data for rocatinlimab in atopic dermatitis shows commercial potential despite competition. Goldman Sachs maintains a Buy rating with a $370 price target, noting the drug's safety profile and market potential. Amgen's stock is down 4.67% following the update.

September 25, 2024 | 5:30 pm
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NEUTRAL IMPACT
Amgen's Phase 3 trial data for rocatinlimab in atopic dermatitis shows potential despite competition. Goldman Sachs maintains a Buy rating with a $370 price target, but AMGN stock is down 4.67% as data was below expectations.
Amgen's rocatinlimab showed potential in Phase 3 trials, but the data was less compelling than competitors, leading to a stock drop. However, Goldman Sachs sees commercial potential, maintaining a Buy rating and a $370 price target.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Eli Lilly's Ebglyss is a competitor to Amgen's rocatinlimab in the atopic dermatitis market. The competitive landscape is noted by Goldman Sachs, but no direct impact on LLY's stock is mentioned.
Eli Lilly's Ebglyss is mentioned as a competitor to Amgen's rocatinlimab. The news focuses on Amgen, so the direct impact on LLY is minimal.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 30
NEUTRAL IMPACT
Sanofi's amlitelimab is a competitor to Amgen's rocatinlimab in the atopic dermatitis market. The competitive landscape is noted by Goldman Sachs, but no direct impact on SNY's stock is mentioned.
Sanofi's amlitelimab is mentioned as a competitor to Amgen's rocatinlimab. The news focuses on Amgen, so the direct impact on SNY is minimal.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 30