Jefferies keeps Amgen at hold

Amgen, Inc. was maintained at hold by Jefferies & Co., Inc. analyst Adam Walsh based on Jefferies' proprietary metastatic colorectal cancer (mCRC) survey results coupled with positive P-Mab (Panitumumab) data presented at the American Association of Cancer Research meeting. As a result, Jefferies is increasing its P-Mab and earnings-per-share estimates for 2006 through 2008. The analyst increased the price target to $77 from $76. Shares of the Thousand Oaks, Calif., biotechnology company were down 82 cents, or 1.14%, at $71.03 on volume of 8,179,568 shares versus the three-month running average of 10,812,700 shares. (Nasdaq: AMGN)

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