Amgen Inc. shareholders can take their pick from a diversemenu of expert advice on what to do with their stock.
The stock (NASDAQ:AMGN) closed up $1.75 at $110.75 onWednesday after losing $5 on Tuesday. It hit a closing high of$134.50 on April 25.
On the bull side, Shearson Lehman Brothers biotech analystTeena Lerner has had a "buy" on stock of the Thousand Oaks,Calif., company for years. "I see it going up," she told BioWorld."The stock hasn't gotten to where it's gotten in a straight line.It's a few steps forward and fewer steps back."
On the other side is market technician Stan Weinstein, who hashad a "sell" on the stock since mid-May. "I'm not sayinganything bad about the company," said Weinstein, who is editorand publisher of The Professional Tape Reader and Global TrendAlert in Hollywood, Fla.
"I'm negative on the stock market and the biotechnology sectorfor the next four to six months," Weinstein told BioWorld."Amgen has the potential to sell in the mid-$80s to mid-$90s.Over the next few months, I'd use rallies to sell at least aportion of the stock."
In the middle is analyst Amy Berler of First Boston Corp. inNew York. She's had a "hold" on the stock since it hit $130 onMay 6. "If I saw enough people turn negative on the stock, Imight go to a 'buy,' " she said. "The stock's not badly pricedright now; it's just in a technical spin." -- Karen Bernstein
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