Amgen Stock Soars on Pipeline Success, Revenue Growth

Amgen's stock has been on the rise after positive results from its pipeline. The company announced that its Phase 3 study for dazodalibep, a treatment for Sjögren's disease, showed improved systemic disease activity at the 48-week mark and improvements as early as four weeks.

This news adds to Amgen's growing momentum, which has seen its stock increase by 2.11% since September 25, closing at $414.61. The company also reported positive results for IMDELLTRA in a Phase 3 study, demonstrating improved overall survival compared to Imfinzi as a standalone therapy in the first-line maintenance treatment of small-cell lung cancer.

Amgen's pipeline is gaining attention, with dazodalibep and IMDELLTRA showing promising results. The company's revenue has increased by 10% year-over-year, with sales of Repatha rising 37%, EVENITY increasing 38%, and IMDELLTRA jumping to $288 million from $134 million in the previous year.

However, older products such as Otezla, Enbrel, Prolia, and XGEVA have experienced declines in sales. Amgen's guidance for 2026 remains strong, with revenue expected to reach $38.2-$39.4 billion and EPS between $15.80-$17.08.

Technical analysis suggests that the stock may break above $418.73, targeting levels of $429.33 and $437.85. Support should come in at $410.08 to $410.31, with a trading close below this area negating the breakout.