Amgen Stock Surges on Positive Dazodalibep Trial Results
Amgen's stock price surged on October 2, 2026, following the company's announcement of positive Phase 3 trial results for its treatment dazodalibep in systemic Sjogren's disease. The OASIZ 301 study met its primary endpoint at Week 48, with improvement in disease activity observed as early as Week 4.
The study enrolled approximately 621 people, providing a meaningful development scope while keeping the commercial question open. Amgen plans to present detailed data at a future medical meeting and is awaiting the completion of the separate Phase 3 OASIZ 303 study in the fourth quarter of 2026.
Jefferies, a financial firm, raised its target for Amgen stock from $367 to $410 after the trial result. Jefferies also increased its risk-adjusted peak-sales estimate for dazodalibep from $1 billion to $4.5 billion while maintaining a Hold rating.