UPDATE: Goldman Sachs Reiterates Buy Rating, $130 PT on Amgen Ahead of AMG 386 Phase 3 Data

In a report published Wednesday, Goldman Sachs analyst Terence Flynn reiterated a Buy rating and $130.00 price target on Amgen (NASDAQ: AMGN).

In the report, Goldman Sachs noted, “We expect AMGN to report the first Ph3 data for pipeline cancer drug Trebananib (AMG 386) in the next few months. The trial is comparing ‘386 in combo with Taxol vs. Taxol alone in late stage ovarian cancer. We project this could be a $1bn WW opportunity, however there is a high bar for approval (survival).”

Amgen closed on Tuesday at $104.24.