UBS has upgraded its rating on shares of American biotech giant Amgen (AMGN.US) from "Neutral" to "Buy," raising the price target from $317 to $380. The bank stated that two late-stage pipeline products—the weight-loss drug MariTide and the cardiovascular treatment olpasiran—are poised to drive the company's growth through 2030. This new target implies a potential upside of nearly 15% from Amgen's closing price on Tuesday.
MariTide (AMG 133) is a GLP-1R agonist/GIPR antagonist developed for treating obesity and type 2 diabetes. Data indicates that obese or overweight patients without type 2 diabetes achieved an average weight reduction of 20% after 52 weeks of treatment with the drug, with no observed weight-loss plateau; patients with type 2 diabetes experienced an average weight loss of 17%.
Olpasiran (AMG 890) is an investigational small interfering RNA (siRNA) therapy designed to reduce the production of lipoprotein(a), or Lp(a)—a genetically determined, independent risk factor for cardiovascular disease—by targeting the mRNA transcribed from the Lp(a) gene. Study results showed that patients receiving subcutaneous injections of 75mg or higher doses of olpasiran every 12 weeks achieved a reduction in Lp(a) of up to 95% or more at week 36 compared to the placebo group; at doses of 75mg or higher, over 98% of patients saw their Lp(a) levels fall to 125 nmol/L or lower by week 36.
UBS analysts believe that a key advantage of MariTide is its potential for once-monthly dosing. Although trial results raised some tolerability concerns, Amgen favors a new "three-step titration formulation regimen," which is expected to significantly improve tolerability and reduce discontinuation rates. This approach supports achieving a positive weight-loss effect of 15%-20% in Phase 3 trials, while maintaining a monthly dosing frequency and a side-effect profile similar to Eli Lilly's (LLY.US) tirzepatide.
Comments