Amgen's Dazodalibep Shines in Sjögren's Disease Trial
Amgen Inc.'s stock has received a mixed bag of analyst updates following positive results from its Phase 3 trial of dazodalibep for systemic Sjögren's disease. The OASIZ 301 study demonstrated significant improvements in disease activity, as measured by the EULAR Sjögren's Syndrome Disease Activity Index, with results visible from as early as Week 4 and sustained through Week 48.
The drug, a potential first-in-class CD40L antagonist fusion protein, met its primary endpoint in the trial. Amgen currently forecasts dazodalibep sales of $25 million in 2028 ramping to $300 million in 2032. The second symptomatic patient group, representing approximately 60% to 85% of the Sjogren's disease market, could meaningfully broaden the addressable population for dazodalibep.
Several analysts have updated their ratings on Amgen stock following the trial results. Canaccord Genuity reiterated a Hold rating and $384 price target, while Oppenheimer maintained an Outperform rating with a $450 price target. Jefferies raised its price target to $410, maintaining a Hold rating.