Amgen stock trades at USD 406.04 after pipeline win

Published on 09/25/2026 at 12:31 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Amgen stock reflects a September 22 Phase 3 win for dazodalibep in Sjogren's disease. Q2 revenue reached USD 10.05 billion, up 10 percent year over year.

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Amgen stock (ISIN US0311621009) stood at USD 406.04 on Nasdaq on September 24, 2026, leaving the shares 9.17 percent below their 52-week high of USD 447.03. The latest pipeline signal came on September 22, when dazodalibep met the primary endpoint in a Phase 3 study of systemic Sjogren's disease, according to Finanznachrichten.

Dazodalibep expands the pipeline

The OASIZ 301 trial enrolled approximately 621 participants, and the primary endpoint measured disease activity at Week 48. The release said improvement appeared as early as Week 4 and continued through Week 48, giving Amgen a fresh clinical asset beyond its established medicines.

The same update also identifies a counter-factor: detailed data are scheduled for presentation at a future medical meeting, while the related OASIZ 303 study is expected to complete in Q4 2026. Those milestones leave regulatory timing and durability of the treatment effect as the next measurable checkpoints.

Q2 results set a high bar

Amgen's second-quarter 2026 revenue reached USD 10.05 billion, up 10 percent from Q2 2025, while non-GAAP diluted EPS was USD 6.29, according to TradingView. GAAP diluted EPS was USD 4.37, and free cash flow totaled USD 3.489 billion for the quarter.

MarketBeat reports that the USD 6.29 EPS figure exceeded a USD 5.62 consensus estimate by USD 0.67, while revenue surpassed the USD 9.43 billion estimate by USD 0.62 billion. The comparison matters because the pipeline win arrives alongside operating performance that already exceeded quarterly expectations.

Analyst targets split the outlook

Jefferies raised its Amgen price target to USD 410 from USD 367 after the dazodalibep data, while Goldman Sachs maintained a Buy rating and a USD 450 target, according to MarketBeat. Bank of America retained an Underperform rating and a USD 317 target, highlighting the wide range of expectations.

Stock remains below the yearly peak

Amgen stock stood at USD 406.04 on Nasdaq at 8:00 p.m. UTC on September 24, 2026, down USD 0.05, or 0.01 percent, from the prior close. The market capitalization was USD 219,143,036,320, and the 52-week range was USD 269.77 to USD 447.03.