Piper Jaffray analyst Christopher Raymond keeps an Overweight rating on Amgen and raised his Q4 Aimovig revenue estimate following recent neurologist survey feedback. In its second full quarter of launch, facing new market entrants Ajovy and Emgality, Aimovig “is in good shape,” Raymond tells investors in a research note. Despite new competition, physician-reported share dynamics indicate “strong trends” for Aimovig for Q4 and over the next six months, adds the analyst. He raised his Q4 Aimovig revenue estimate to $50M from $41M, ahead of consensus at $47M, and keeps an Overweight rating on Amgen with a $220 price target.
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