AlphAIAlphAI — Financial news for AI agents
investing.comSEP 232 min read$AMGN

Canaccord reiterates Amgen stock Hold rating on pipeline win

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.

Original reporting
investing.com
Published Sep 23, 2026, 11:43 AM UTC
Analysis
AlphAI AI DeskAI-generated
Added to AlphAI Sep 23, 2026, 12:54 PM UTC. Informational, not investment advice.
How this was made
AlphAI summarizes source reporting and applies a structured AI analysis for relevance, timing, sentiment and ticker impact. Always verify material claims with the original publisher.
About AlphAI AI DeskScoring methodologyReport an issue
AlphAI market briefTechnology
Primary signal
$AMGN
Bullish
high confidence
Mentioned
$AMGN
Relevance
8/10
AlphAI data visualization · based on investing.com
Decision brief

The 30-second read

$AMGNBullishMed
01

Why it matters

The data could expand Amgen's autoimmune portfolio and drive revenue growth, but market reaction may be muted by mixed analyst sentiment.

02

Market read

Positive trial data for a large biotech may influence sector sentiment and individual stock positioning.

03

What to watch

Potential competition from other CD40L antagonists and reimbursement uncertainty.

Relevance 8/10Novelty 8/10Timing: today

Background

Amgen announced positive Phase 3 results for dazodalibep, a first‑in‑class CD40L antagonist for Sjögren's disease.

Company-level read

Ticker impact

$AMGNBullishHigh confidence
Context

Amgen's Phase 3 trial of dazodalibep met its primary endpoint in Sjögren's disease, prompting a Hold rating reiteration.

Expected impact

Potential upside of 5-8% if market digests data positively.

Evidence & confidence

First report of pivotal trial results for a first‑in‑class therapy; analysts are adjusting targets.

Market effects

Sector

Biotech sector may see renewed interest in autoimmune therapies.

Regional

U.S. biotech stocks could experience modest gains.

Global

Global investors tracking biotech pipelines may adjust exposure.

Counterpoint

What could challenge this read

Skeptics may question long‑term efficacy and safety, keeping the stock capped.

Key entities

  • analyst
    Canaccord Genuity

    Reiterated Hold rating with $384 price target.

  • analyst
    Oppenheimer

    Outperform rating with $450 price target.

Read at source← All news

Related articles

SEP 23
$AMGNHighAI 9/10

AMGN's Dazodalibep Meets Goal in Systemic Sjogren's Disease Study

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.

finance.yahoo.com2 min
SEP 23
$AMGNHighAI 9/10

Amgen's Horizon buyout delivers Sjögren's disease win

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.

pharmaphorum.com2 min
SEP 23
$AMGNHighAI 8/10

Amgen (AMGN) Following Its Sjögren's Trial Win Through A Valuation Lens

Amgen (AMGN) reported positive Phase 3 trial results for dazodalibep in treating Sjögren's disease. The stock has gained 25.21% YTD and 47% over 1 year. Analysts debate its valuation, with some arguing it's 14% overvalued at $410.24, while a DCF model suggests it's undervalued at $669.25. The company's pipeline and debt levels are key considerations.

simplywall.st3 min
SEP 22
$AMGNMedAI 8/10

AMGN Jumps After Win In Sjögren’s Disease Trial As Citi Flags ‘Open Questions’

Amgen (AMGN) shares rose 4% after reporting positive late-stage trial results for dazodalibep in treating systemic Sjögren’s disease, a condition with no approved therapy. The trial showed significant improvement in disease intensity. Citi noted positive results but awaits more details, maintaining a Neutral rating and $405 price target. AMGN is up 25% year-to-date.

stocktwits.com2 min
SEP 22
$AMGNMedAI 8/10

Amgen Hits Primary Endpoint In Sjögren's Trial, But Approval Filing Awaits Another Trial Data - Amgen (NA

Amgen (AMGN) reported positive results from its Phase 3 OASIZ 301 trial for dazodalibep in treating Sjögren’s disease, meeting the primary endpoint. The study showed statistically significant improvements in disease activity scores. Adverse events were low and similar to placebo. Amgen plans to share full data at a future conference and awaits results from another trial, OASIZ 303, for potential FDA filing. Shares rose 3.54% to $407.08. Analysts expect two positive trials for approval.

benzinga.com4 min