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12:00 AM
 | 
Oct 29, 2007
 |  BioCentury  |  Analyst Picks & Changes

Analyst picks & changes

Analyst picks & changes

Company Bank Analyst Coverage Opinion Wk chg 10/26 cls
Affymetrix (AFFX) Piper Jaffray Edward Tenthoff Price target Market perform -6% $25.73
Tenthoff lowered his target to $25 from $26. He also dropped his FY07 and FY08 revenue estimates to $370M from $373M and to $399M from $421M, respectively. Tenthoff also changed his FY07 and FY08 EPS estimates to $0.11 from $0.05 and to $0.55 from $0.58 on AFFX's earnings (see "EPS Watch," A22).
Amgen (AMGN) Baird Christopher Raymond Price target Neutral 2% $57.18
Banc of America Securities William Sargent Other Neutral
CIBC World Markets Bret Holley Other Overweight
Cowen Eric Schmidt Other Market outperform
Leerink William Tanner Other Market outperform
Raymond lowered his target to $56 from $57 and raised his FY07 and FY08 EPS estimates to $4.31 from $4.22 and to $4.46 from $4.38, respectively, on AMGN's earnings. He believes sluggish top-line revenue performance "is likely to drag on AMGN shares for some time to come" (see "EPS Watch," A22).
Sargent lowered his FY07 and FY08 EPS estimates to $2.48 from $3.44 and to $3.12 from $3.83, respectively.
Holley lowered FY08 EPS to $4.63 from $4.68. Holley expects upcoming FDA label revisions for Aranesp "will align with ASCO guidelines," which he expects will be a "positive for AMGN" (see "Trial doesn't fix Tribulation," A8).
Schmidt raised his FY07 and FY08 revenue estimates to $14.53B from $14.46B and to $14.49B from $14.48B, respectively, and lowered his FY08 EPS estimate to $4.20 from $4.25. He noted that AMGN's lower than anticipated 3Q spending "bodes well for Amgen's ability to control costs in future quarters."
Tanner increased FY07 and FY08 revenue estimates to $14.56B from $14.49B and to $15.13B from $15.12B, respectively. He also changed his FY07 EPS and FY08 EPS estimates to $4.19 from $4.15 and to $4.56 from $4.66, respectively.
Biogen...

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