Amgen maintained by Bear Stearns at peer perform

Amgen Inc. was maintained by Bear Stearns analyst Mark Schoenebaum at a peer perform rating on news of the Abgenix, Inc. acquisition. Bear Stearns said Abgenix is an excellent strategic fit due to savings of panitumumab profit sharing and royalties on denosumab. Earnings-per-share dilution is expected to be minor, Bear Stearns said. Shares of the Thousand Oaks, Calif., biotechnology company were up $3.66, or 4.77%, at $80.44 on volume of 11,330,508 shares versus the three-month running average of 8,170,060 shares.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.