Amgen Shares Receive Consensus 'Hold' Rating Amid Fluctuating Performance

Amgen Inc., the medical research company behind several autoimmune disease treatments, has been given a consensus 'Hold' rating by thirty ratings firms.

This consensus comes after Bank of America lifted its target price on Amgen from $312.00 to $317.00 and gave the company an 'underperform' rating in a recent report.

The stock's performance has seen some fluctuations, with Amgen dropping 10% due to a trial it didn't even run, but its OASIZ 301 trial met its primary endpoint: dazodalibep significantly reduced systemic disease activity in adults with moderate-to-severe Sjögren’s disease.

This result strengthens the drug's potential as a new treatment option for the autoimmune condition and was the primary catalyst behind the stock's advance.