Guggenheim cut target for Amgen stock to USD 378 from USD 388

Published on 10/16/2026 at 09:58 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Amgen stock costs EUR 385.98 on October 16, 2026. Q3 results are due November 3, 2026 after the close with a 4:30 p.m. ET call.

Pipeline, earnings and valuation

Guggenheim cut its Amgen target to USD 378 from USD 388 on October 13, 2026.
Amgen generated USD 10.05 billion in second-quarter 2026 revenue, up 9.50 percent year over year.
Amgen stock trades at EUR 385.98 at 9:47 a.m. CEST at Lang & Schwarz on October 16, 2026.

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Amgen stock (ISIN US0311621009) was trading at EUR 385.98 at Lang & Schwarz on October 16, 2026, at 9:47 a.m. CEST. Guggenheim cut its Amgen target to USD 378 from USD 388 on October 13, 2026, according to Markets Insider.

Pipeline data supports the case

The latest company catalyst remains Amgen's September 22, 2026 announcement of positive Phase 3 OASIZ 301 results for dazodalibep in systemic Sjogren's disease. The study met its primary endpoint at Week 48, according to Amgen. Detailed data are expected at a future medical meeting, while the OASIZ 303 study is expected to finish in the fourth quarter of 2026.

The chronology shows three measurable stock drivers. On August 4, 2026, Amgen reported second-quarter revenue of USD 10.05 billion and adjusted earnings per share of USD 6.29 against consensus of USD 5.62, according to MarketBeat. On September 22, 2026, the dazodalibep trial met its primary endpoint. On October 13, 2026, Guggenheim reduced its target to USD 378 from USD 388.

What does the target cut mean?

The cut places Guggenheim's USD 378 target USD 56.03 below Amgen's USD 434.03 Nasdaq close on October 15, 2026. That contrast makes the upcoming earnings report the next test of whether second-quarter execution can offset a more cautious valuation view.

Next reporting date

Amgen is scheduled to report third-quarter 2026 results on November 3, 2026, after the close, with a conference call at 4:30 p.m. ET, according to MarketBeat.

Stock valuation and pipeline remain divided

Amgen's second-quarter revenue rose 9.50 percent from the prior-year quarter to USD 10.05 billion, while net income attributable to common shareholders reached USD 2.38 billion. The combination of stronger operating figures and a lower analyst target leaves the market weighing execution against valuation.

Amgen was trading at EUR 385.98 at Lang & Schwarz on October 16, 2026, at 9:47 a.m. CEST. The primary listing is Nasdaq, where the stock closed at USD 434.03 on October 15, 2026. The further course of trading is shown by the continuously updated real-time quote of Amgen stock.