The conference season is starting to get into full swing, and for the top biotech stocks, that means an appearance at the American Society of Clinical Oncology yearly conference. Many of the top names present key data sets at their presentations, with some being brand new and some updating previously released results. With cancer expected to be the leading cause of death within the next 20 years, the top biotech companies are focusing on new treatments that may provide incredible breakthroughs.
The biotech team at Cowen has done a summary of data released or that will be released from some of the top biotech names in their coverage universe. Here is some of the commentary on stocks the firm rates as Outperform.
Amgen Inc, is the top blue chip name in the biotech world and at Cowen. A biotechnology pioneer since 1980, Amgen focuses on areas of high unmet medical need and leverages its biologics manufacturing expertise to strive for solutions that improve health outcomes and dramatically improve people’s lives. The company trades at a low 12.6 times forward earnings. The company will present for the first time results from its potentially pivotal Phase 2 trial of blinatumomab, which is a bi-specific T-cell engaging antibody that targets CD3+ T-cells to cancer cells expressing a tumor specific antigen. The biotech giant pays investors a solid 2.2% dividend. The Thomson/First Call price target for the stock is $132.64. Amgen closed Thursday at $110.29 a share.
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