Amgen Stock Rises on Positive Trial Results and Strong Earnings
Amgen Inc. (ISIN US0311621009) saw its stock rise on October 6, 2026, trading at EUR 361.58 on Lang & Schwarz, up 0.71% from the previous close. The company has been in focus following Cantor Fitzgerald's reiteration of a Neutral rating and a USD 400.00 price target, as reported by Investing.com on October 5, 2026.
Amgen's stock has been supported by positive clinical trial results and strong financial performance. The company announced on September 22, 2026, that its Phase 3 OASIZ 301 study of dazodalibep met its primary endpoint at Week 48, showing statistically significant improvements in systemic disease activity. The trial's success positions Amgen's autoimmune pipeline as a key driver for future growth, with the related Phase 3 OASIZ 303 study expected to complete in the fourth quarter of 2026.
Financially, Amgen reported strong second-quarter 2026 results, with revenue of USD 10.05 billion, surpassing the USD 9.43 billion consensus. Adjusted earnings per share reached USD 6.29, beating the expected USD 5.62. The company also set fiscal 2026 adjusted earnings-per-share guidance at USD 22.30-23.50.
Despite these positive developments, Amgen's stock remains below its yearly high. On Nasdaq, the stock closed at USD 402.98 on October 5, 2026, trading 9.85% below its 52-week high of USD 447.03. Analysts' views are mixed, with Scotiabank setting a higher target of USD 500.00 and retaining a Sector Outperform view, while Cantor Fitzgerald's target sits below the current Nasdaq close.