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Jefferies Boosts Amgen Price Target Following Positive Dazodalibep Trial Results
Jefferies has increased its price target for Amgen Inc. () shares to $410, citing positive Phase 3 trial results for dazodalibep in moderate-to-severe systemic Sjögren’s disease.
The drug, a CD40L antagonist, showed significant improvement in ESSDAI scores as early as week four in the trial, outperforming competitor trials that saw separation at weeks 12-16.
Jefferies noted potentially better safety and tolerability for dazodalibep compared to other data sets in the therapeutic area.
The research firm has also increased its peak sales estimate for dazodalibep to $4.5 billion from $1 billion based on current data.