Piper Sandler Reaffirms Buy on Amgen Amid MariTide Tolerability Update

Amgen Inc. (NASDAQ:AMGN) ranks among the best set-it-and-forget-it stocks to buy. On June 24, Piper Sandler reaffirmed its Overweight rating and $328 price target for Amgen Inc. (NASDAQ:AMGN) in response to the company’s disclosure of comprehensive MariTide tolerability data.

The obesity medication’s gastrointestinal tolerability profile unnerved the market, particularly the frequency of nausea and vomiting, which at first seemed more problematic than alternatives. Piper Sandler’s study however, shows that both one- and two-step dose escalation regimens showed a noticeable improvement in the drug’s tolerability profile, consistent with management’s claims at the December top-line results announcement.

According to the firm, the weight loss drug could produce a more commercially acceptable nausea and vomiting profile due to the much lower starting dosages and three-step dose escalation protocols included in the pivotal studies.

Amgen Inc. (NASDAQ:AMGN) is a global biopharmaceutical company that focuses on human treatments for cardiovascular, hematology, inflammation, cancer, and bone health.

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