Miller Derek sold $1.6M of AMGN

Novo Nordisk will cut U.S. list prices for Ozempic and Wegovy by 34% and 50% respectively, starting in 2027. Eli Lilly's new GLP-1 pill, Foundayo, was approved by the FDA. Prices vary by insurance coverage. Some employers, like PepsiCo and Cigna, are ending weight loss drug coverage. New drugs from Lilly, Novo Nordisk, and Amgen are in development.

Jefferies raised Amgen's price target to $410 from $367 after positive Phase 3 results for dazodalibep in systemic Sjögren's disease. The drug showed significant improvement in ESSDAI at week 48, with better safety and tolerability. Jefferies increased peak sales estimates to $4.5 billion and raised revenue and EPS forecasts for 2026-2027.

Amgen's Phase III trial for dazodalibep in Sjögren's disease met its primary endpoint, showing a significant reduction in disease activity. The drug, acquired via Horizon Therapeutics, is being studied in another Phase III trial. No FDA-approved treatments exist for Sjögren's disease. Amgen plans to present detailed data at a medical meeting. Competitors like Novartis, RemeGen, and Johnson & Johnson are also developing treatments.

Amgen (AMGN) reported positive phase III study results for dazodalibep in systemic Sjögren's disease, showing significant improvement in disease activity. The company plans to present detailed data at an upcoming conference. AMGN shares have risen 27.9% year-to-date. Other pipeline candidates include olpasiran, xaluritamig, and daxdilimab.

Canaccord Genuity reiterated a Hold rating and $384 price target for Amgen (AMGN) after positive Phase 3 trial results for dazodalibep. The drug showed significant improvement in treating moderate-to-severe Sjogren’s disease. Amgen's stock trades at $410.24, with a P/E ratio of 25.46 and PEG ratio of 0.79. Analysts have mixed reactions, with some raising targets and others downgrading.

Amgen's dazodalibep showed efficacy in a phase 3 trial for Sjögren's disease, meeting its primary endpoint. The drug is part of Amgen's $28B Horizon Pharma acquisition. Full data from a second trial is expected by year-end. No FDA-approved treatments exist for this autoimmune disorder.