Amgen stock rises 4.34 percent as trial data lift pipeline hopes

Published on 09/23/2026 at 13:38 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Amgen stock traded at USD 410.24 on September 22, 2026, while Jefferies lifted its target to USD 410 from USD 367. Quarterly revenue reached USD 10.05 billion.

Fotorealistische moderne Biotech-Produktionsanlage mit Glasfassade, Bioreaktoren und Palmen unter blauem Himmel — Amgen Inc. (ISIN US0311621009) zeigt fotorealistisch eine moderne Biotech-Anlage mit Bioreaktoren in Kalifornien, Illustration mit AI erstellt.

Amgen Inc. (ISIN US0311621009) closed at USD 410.24 on the Nasdaq on September 22, 2026, up 4.34 percent from the previous close. The move followed positive Phase 3 data for dazodalibep in Sjogren's disease, while Investing.com reported on September 23, 2026, that Jefferies raised its price target from USD 367 to USD 410 and kept a Hold rating.

Dazodalibep clears a key trial hurdle

The OASIZ 301 Phase 3 study met its primary endpoint in adults with moderate-to-severe Sjogren's disease. According to MarketBeat on September 23, 2026, the result strengthened the pipeline outlook, but another study must report before Amgen can submit a regulatory filing.

Jefferies increased its peak-sales estimate for dazodalibep to USD 4.5 billion from USD 1 billion after the data, according to Investing.com on September 23, 2026. The comparison is material for valuation, but the expected OASIZ-303 data are scheduled for the fourth quarter of 2026, leaving a further clinical milestone before the commercial case can be tested.

Quarterly numbers support the valuation

Amgen reported USD 6.29 in earnings per share and USD 10.05 billion in revenue for the quarter ended June 30, 2026, according to MarketBeat on September 23, 2026. EPS exceeded the USD 5.62 consensus estimate by USD 0.67, and revenue was 9.5 percent above the comparable quarter's level.

The company maintained fiscal-year 2026 EPS guidance of USD 22.30 to USD 23.50, while the analyst consensus cited by MarketBeat was USD 22.94 for fiscal year 2026. That narrow relationship between guidance and consensus puts greater weight on pipeline execution rather than on a major near-term earnings revision.

Amgen stock remains below its high

Market data on September 22, 2026, put Amgen's 52-week range at USD 269.77 to USD 447.03 and its market capitalization at USD 221.79 billion. The USD 410.24 close was USD 36.79 below the 52-week high, while the current price-to-earnings ratio reported by MarketBeat was 25.50.

Amgen stock closed at USD 410.24 on the Nasdaq on September 22, 2026, with a daily gain of 4.34 percent. The next valuation test is the OASIZ-303 data expected in the fourth quarter of 2026, alongside the company's fiscal 2026 earnings delivery.