Amgen stock heads into the open after a 10.1% drop
Published on 09/09/2026 at 08:11 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Amgen stock closed at USD 393.17 on the Nasdaq on September 8, 2026, down 10.1% from the previous session.
According to GuruFocus data, this close sits within a 52-week range of USD 269.77 to USD 447.03, underscoring the size of the single-day move.
September 8, 2026 in numbers
Amgen Inc. (ISIN US0311621009, Nasdaq: AMGN) saw its shares fall to USD 393.17 on September 8, 2026, a decline of USD 44.06 or 10.1% on the day, with trading volume nearly tripling the stock's monthly average per GuruFocus data.
As The Motley Fool reported on September 8, 2026, Amgen shares slid about 10% alongside Novartis after Novartis disclosed a Phase 3 setback for its pelacarsen injectable, a cholesterol-targeting drug, which raised concerns about similar therapies.
Market commentary from Wall Street Journal noted that the roughly 10% fall marked Amgen's steepest single-day decline in about 25 years, making the stock a notable drag on the Dow on September 8, 2026.
Per GuruFocus quote data for September 8, 2026, Amgen's close of USD 393.17 compares with an estimated fair value of USD 365.80, leaving the shares about 7.5% above that GF Value estimate even after the drop.
Today’s focus on trial read-across
Today, September 9, 2026, investors are set to monitor further commentary on cholesterol-targeting therapies after Novartis' Phase 3 pelacarsen failure, given Amgen's own work on similar lipid-lowering approaches highlighted in market coverage.
As MSN reported on September 8, 2026, Amgen is working on a cholesterol-targeting drug in the same therapeutic area, so trial outcomes in rival programs can shape expectations ahead of future data disclosures.
Broker activity also remained in focus, with BMO Capital Markets cutting its rating on Amgen to market perform while maintaining a price target of USD 450, as noted by CNBC on September 8, 2026, a stance that may continue to frame discussions around the shares into today’s session.
