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Amgen, Inc. (AMGN) Message Board

  • rob_cos rob_cos Jan 16, 2013 9:06 AM Flag

    ISI - Money flowing from AMGN to CELG. CELG the next BIIB?

    ISI "CELG momentum continued w BofA upgrade as generalists pile in post 2017 guidance & ahead of full Abraxane data & MM-020 - many generalists point to achievable guidance & still SIGNIFICANT upside from here-the next BIIB?

    Just out this am - see biotech comments below

    Most Active Flows Yesterday

    ABBV, ABT, AMGN, BIIB, CELG, HCA, ITMN, ONXX RAD, UHS, UNH, WLP

    Thoughts

    Healthcare took a breather yesterday (S5HLTH -0.2% vs SPX +0.1%) weighed down by rotation/profit taking in Large-Cap Biotech and Pharma while Hospitals continued its momentum higher and select Smid-Cap Biotechs also showed strength and investors prepare for UNH/GE earnings next two days.

    Biotech - we've seen stock selection in Large-Caps to start the year - CELG momentum continued yesterday post competitor upgrade as generalists pile in post 2017 guidance last week and ahead of full Abraxane data and MM-020 - many large generalist funds pointing to achievable guidance given no repo assumption and still significant upside from here - the next BIIB?. Money flows to CELG have been at the expense of AMGN due possibly to lack of near-term catalysts and BIIB ahead of BG-12 launch assumptions. Equity raises in Smid-Cap names have been well received thus far with ITMN/ALNY both trading above pricing pre-mkt and expect ONXX demand will be similar



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