Merrill maintains Amgen buy rating

Amgen Inc. was maintained at buy with a $104 price objective by Merrill Lynch analyst Eric Ende. The stock continues to be plagued by concerns about a new policy for monitoring and reimbursing EPO usage in dialysis centers and concerns that the size of the demonstration project will be cut for next year. However, there was positive news on panitumumab, and Merrill said it believes solid business fundamentals and pipeline news flow will help the stock to rise. Shares of the Thousand Oaks, Calif.-based biotechnology company were up $3.61, or 4.88%, at $77.51 on volume of 12,352,573 shares versus the three-month running average of 8.399.230 shares.

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