** Brokerage Bernstein cuts PT on drugmaker Amgen AMGN.O to $335 from $350, maintains "outperform" rating
** Bernstein analysts say Amgen is "not doing enough explaining for some investors to believe in the target product profile & phase 3 paradigm" for experimental weight-loss drug MariTide
** Amgen said in June it has launched a 72-week late-stage trial, testing three different doses of MariTide in overweight adults, with each group starting at a low dose that will be increased over an eight-week period
** Brokerage says there is additional risk associated with new target doses and dose adjustment going into late-stage study
** Says PT cut reflects "lower confidence in the probability of MariTide in hitting an optimal target product profile" - brokerage
** The new price target represents a 17.6% upside to the stock's last close
** Including marginal session gains, stock up ~10% YTD
(Reporting by Mariam Sunny in Bengaluru)
((Mariam.ESunny@thomsonreuters.com;))
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