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Investing.com - Truist Securities maintained its Hold rating and $298.00 price target on Amgen (NASDAQ:AMGN) following the company’s presentation of detailed Phase 2 data for its obesity drug MariTide at the American Diabetes Association (ADA) conference.
The research firm noted that while MariTide demonstrated efficacy results in line with previously reported topline data, its adverse event profile was "not attractive enough to be differentiated" despite showing improved tolerability in exploratory dose escalation analyses.
Amgen is implementing a dose escalation design in its Phase 3 trials, though Truist indicated uncertainty about how effectively this approach might mitigate side effects in the obesity and type 2 diabetes treatment candidate.
Truist continues to credit MariTide with potential peak sales of $5.6 billion, acknowledging Amgen’s historical strength in drug commercialization, but expressed concerns about the treatment’s ability to establish a differentiated and competitive profile in the increasingly crowded obesity market.
The pharmaceutical company is expected to present additional data from Part 2 of its Phase 2 maintenance study in the second half of 2025, which may provide further clarity for investors regarding MariTide’s long-term potential.
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