Market Update: Amgen Inc (NASDAQ:AMGN) – Amgen Announces Positive Top-Line Results From Phase 3 GAUSS-3 Trial Of Repatha® (Evolocumab) In Statin-Intolerant Patients With High Cholesterol

[PR Newswire] – THOUSAND OAKS, Calif., Feb. 4, 2016 /PRNewswire/ — Amgen (AMGN) today announced that the Phase 3 GAUSS-3 (Goal Achievement After Utilizing an Anti-PCSK9 Antibody in Statin Intolerant Subjects-3) trial evaluating Repatha® (evolocumab) in patients with high cholesterol who cannot tolerate statins met its co-primary endpoints: mean percent reductions from baseline in low-density lipoprotein cholesterol (LDL-C) at weeks 22 and 24, and the percent reduction from baseline in LDL-C at week 24. The mean percent reductions in LDL-C, or “bad” cholesterol, compared to ezetimibe, were consistent with results observed in the 12-week Phase 2 GAUSS-1 and Phase 3 GAUSS-2 trials. “The positive results from the GAUSS-3 study contribute to the growing body of evidence supporting Repatha as an innovative treatment option for patients who have not been able to adequately lower their LDL cholesterol through diet and statins alone,” said Sean E. Harper, M.D., executive vice president of Research and Development at Amgen. Read more on this. Amgen Inc. (AMGN) , currently valued at $113.32B, started trading this morning at $150.50. Today’s price range has been between $148.80 and $151.96 per share and has traded between $130.09 and $181.81 over the past 12 months. AMGN shares are currently priced at 14.02x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s -3.68x earnings multiple for the same period. The company pays shareholders $4.00 per share in dividend income per year, for a current yield of 2.62%. According to a consensus of 16 analysts, the earnings estimate of $2.59 per share would be $0.11 better than the year-ago quarter and a $0.03 sequential increase. What we find to be interesting is that the full-year EPS estimate of $10.75 is a $0.37 better when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $5.30 Billion. If reported, that would be a 5.37% increase over the year-ago quarter. In terms of ratings, Credit Suisse Initiated AMGN at Outperform (Jan 20, 2016). Previously, Raymond James Initiated AMGN at to Mkt Perform. The average price target for AMGN shares by the analysts covering it is $185.00, which is 22.92% above where the stock opened. See more in (NASDAQ:AMGN) Similar Articles: Stock Update: Amgen Inc (NASDAQ:AMGN) – Amgen And Allergan Announce Positive Top-line Results From Phase 3 Study of Biosimilar Candidate ABP 215 Company Update (NASDAQ:AMGN): Europe gets Amgen cholesterol drug for 50-60 pct of U.S. price Stock Update: Amgen Inc (NASDAQ:AMGN) – Amgen To Present New Long-Term Repatha™ (Evolocumab) Data Analysis At ESC Congress 2015