Amgen Stock Maintains Neutral Rating Despite Positive Trial Results

Cantor Fitzgerald has maintained its Neutral rating on Amgen Inc. (AMGN) with a price target of $400, slightly below the stock’s current trading price of $403. The firm highlighted Amgen’s strong commercial execution and solid financial performance, with revenue up 9.1% to $38.1 billion over the last twelve months and a gross profit margin of 71.9%. The biotech company has also reset expectations for Lp(a) following the HORIZON results, while positive data from Sjogren’s trials have bolstered investor confidence.

Cantor Fitzgerald noted that Amgen has returned to being a consensus long position among investors, despite a relatively quiet catalyst calendar through year-end 2026. InvestingPro rated Amgen’s financial health as GREAT, suggesting the stock is undervalued based on its Fair Value assessment.

In other recent developments, Amgen reported successful results from its OASIZ 301 Phase 3 trial for dazodalibep, targeting moderate-to-severe systemic Sjögren’s disease. The trial met its primary endpoint, showing significant improvements in systemic disease activity. Analysts responded with mixed reactions: Oppenheimer reiterated an Outperform rating with a $450 price target, Jefferies raised its target to $410 (Hold), Canaccord Genuity maintained a Hold rating with a $384 target, and UBS lowered its target to $430 (Buy) while expressing some concerns about the trial.