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Amgen: Jefferies maintains buy rating after new data

(CercleFinance.com) - On Monday an analyst at Jefferies confirms a "buy" rating on the Amgen stock, after the group yesterday announced positive results for its drug AMG-510 in the treatment of a form of lung cancer.

"We think that this likely sets up for a short-term trading dynamic... We continue to believe the drug will move toward FDA approval over the next 1-2 years," the broker says.

Jefferies confirms its target price of 235 dollars for the stock.

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