Merrill puts Amgen at neutral

Amgen Inc. was given a neutral rating by Merrill Lynch analyst Eric Ende after the company reported relatively disappointing data for AMG-706 in patients with refractory GI stromal tumors (GIST) compared to Sutent which was approved in January. According to the analyst, AMG-706 had a shorter progression-free survival, lower objective response rate and higher rate of side effects than Sutent. Shares of the Thousand Oaks, Calif.-based biotechnology company were up 24 cents, or 0.32%, at $75.11. (Nasdaq: AMGN)

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