Its price target of $320 suggests shares could rally 25% from Tuesday's close. "Amgen is a best-in-class operator with high margins and a strong history of protecting its assets. While some very old products are finally facing patent cliffs it will likely be gradual and a broadened portfolio allows for continued growth," analyst Morten Herholdt wrote in a Wednesday note.
mountain AMGN in 2023 — CNBC's Michael Bloom contributed to this report.