Barclays Maintans "Overweight" on Amgen (NASDAQ:AMGN)

Saying they see no read through to Xgeva, Barclays (NYSE:BCS) said they're maintaining their "Overweight" rating on Amgen (NASDAQ:AMGN).

Barclays noted, "We are reiterating our rating on shares of AMGN following failure of the AZURE study for competitor Novartis and ahead of bone met prevention data from AMGNs own study -147. We believe that failure of Novartis's Zometa to delay bone metastases in breast cancer has limited read-through to AMGNs -147 study for denosumab in prostate cancer and continue to believe that likelihood of success is greater than failure."

Amgen closed Monday at $54.11, up $0.22, or 0.40 percent. Barclays has a price target of $71 on them.