Zacks Analyst Blog Highlights: Amgen, Genentech, Biogen Idec, Genzyme and Gilead Sciences

Business Wire, April 28, 2008

CHICAGO -- Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Amgen, Inc. (Nasdaq: AMGN), Genentech Inc. (NYSE: DNA), Biogen Idec, Inc. (Nasdaq: BIIB), Genzyme Corporation (Nasdaq: GENZ) and Gilead Sciences, Inc. (Nasdaq: GILD).

See the latest posts to the Analyst Blog: http://www.zacks.com/blog/post_info.html?g=6

Here are highlights from Friday's Analyst Blog:

Events at Amgen Punish Shares

Amgen, Inc. (Nasdaq: AMGN) a global biotechnology company, is focused on the development and commercialization of human therapeutics. The company's key products are Epogen/Aranesp (anemia), Neupogen/Neulasta (neutropenia) and Enbrel (inflammatory disease). Recent negative events surrounding lead product Aranesp have punished the shares greatly.

Results over the past few quarters demonstrate the challenging ESA market. Nevertheless, we still feel as though the pipeline is significantly undervalued, and we continue to recommend the name as a long-term hold within the biotechnology sector. Our price target is $48.

Based on our 2008 through 2012 model, the five-year earnings CAGR of 6% is generally in-line with that of most large-cap pharmaceutical companies. Yet it is well below some of the larger biotechnology peers such as Genentech Inc. (NYSE: DNA), Biogen Idec, Inc. (Nasdaq: BIIB), Genzyme Corporation (Nasdaq: GENZ) and Gilead Sciences, Inc. (Nasdaq: GILD), which should deliver 12-15% growth over the same time period. That should help investors value the stock on a multiple basis.

Get the full analysis of all these stocks by going to http://at.zacks.com/?id=2649.

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