Amgen (NASDAQ:AMGN) Looks Good on Foundation Remaining Intact

Based on their solid base business, Barclays sees Amgen (NASDAQ:AMGN) continuing to perform strongly, with most of their segments looking lower risk.

Barclays says, "Overall, 4Q10 results were solid, guidance for 2011 is generally inline, and comments regarding denosumab franchise suggest increasing confidence in broadening Prolia Part D reimbursement, strong XGEVA launch, and robust '147 data on detailed review. With the acquisition of private oncolytic virus company BioVex, concerns regarding targeting patent challenged small molecule franchises should abate, although OncoVex should be considered high risk/high reward."

Barclays maintains an "Overweight" rating on Amgen (AMGN), which was trading at $57.02, down $0.27, or 0.47 percent, as of 2:39 PM EST. Barclays lowered their price target on Amgen from $76 to $72.