Key Stats for Amgen Stock
- Price change for Amgen stock in last 1 year: 43%
- $AMGN Stock Price as of Sep. 22: $410
- 52-Week High: $447
- $AMGN Stock Price Target: $388
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What Happened?
Amgen (AMGN) stock rose after the company shared positive Phase 3 trial results.
The study, called OASIZ 301, tested dazodalibep in adults with moderate-to-severe systemic Sjögren’s disease.
The drug met its main goal.
At Week 48, patients showed a clear and meaningful drop in disease activity. Benefits also appeared as early as Week 4 and lasted through the full trial.
This is a big deal because no FDA-approved disease-modifying treatments currently exist for Sjögren’s.
On its Q2 earnings call, management said the disease affects 350,000 or more patients. Dazodalibep could be the first drug of its kind.
It blocks a signal called CD40L that immune cells use to communicate and drive the disease.
Amgen also designed it to avoid the platelet-related side effects seen with earlier drugs that targeted the same pathway.
There is more to come. A second Phase 3 study, OASIZ 303, is expected to finish in Q4.
It focuses on patients with heavy symptoms but lower systemic disease activity.
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What the Market Is Telling Us About Amgen Stock
Investors see this as a real win. Amgen stock moved well ahead of the overall market, which shows the news was driven by the company itself.
Analysts are staying cautious, though. Citi kept its Hold rating with a $405 price target, which is roughly where shares trade now.
Barclays also kept its Hold rating. Another analyst maintained a Buy rating, citing strong fundamentals and late-stage pipeline upside.
The trial win also adds to solid business momentum.
In Q2, Amgen’s revenue topped $10 billion, up 10% from last year.
The company also raised its full-year revenue and earnings guidance.
For investors watching Amgen stock, the next key moment is the OASIZ 303 readout later this year.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
