Amgen on hold by Jefferies

Amgen Inc. was rated at hold by Jefferies & Co., Inc. analyst Adam Walsh as the company faces slowing product revenue growth, few near-term pipeline catalysts, and the CERA overhang. The company reported first-quarter 2006 adjusted earnings per share of $0.91, 2 cents above the analyst's estimate and Street consensus. Shares of the Thousand Oaks, Calif., biotechnology company were down $2.67, or 3.76%, at $68.30 on volume of 22,624,697 shares versus the three-month running average of 10,938,700 shares. (Nasdaq: AMGN)

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