Amgen Stock Tumbles Amid Mixed Analyst Calls
Amgen's stock price on September 30, 2026 was EUR 372.83 at Lang & Schwarz, down 0.09 percent from the prior close of EUR 373.15. The biotech company has been making progress in its pipeline with positive Phase 3 results for dazodalibep announced on September 22.
The trial met its primary endpoint and is a significant milestone for Amgen's late-stage pipeline, but there are still concerns about valuation and future competition. Scotiabank analyst Louise Chen maintained a Sector Outperform rating and raised her price target to USD 500.00 from USD 450.00 on September 29.
However, HSBC downgraded Amgen to Hold and cut its target to USD 425.00 from USD 445.00. The stock has been trading below its yearly high of USD 447.03, with a market capitalization of USD 228.6 billion as of September 30.