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Jefferies Boosts Amgen Price Target Amid Dazodalibep Trial Success
Jefferies has increased its price target for Amgen Inc. to $410 from $367, maintaining a Hold rating on the stock.
The move comes after positive Phase 3 trial results for Amgen's dazodalibep, a CD40L antagonist, in moderate-to-severe systemic Sjögren's disease.
Jefferies noted that dazodalibep improved ESSDAI scores as early as week four in the trial, which is an earlier separation compared to competitor trials.
The firm also cited potentially better safety and tolerability for dazodalibep versus other data sets in the therapeutic area.