Amgen (NASDAQ:AMGN) Price Target Raised Amid Positive Sjögren's Disease Drug Trial Results

• Analyst Jefferies raised Amgen (NASDAQ:AMGN)'s price target to $410.00, reflecting confidence in its future prospects.
• Amgen's experimental drug, dazodalibep, successfully met its primary goal in a late-stage clinical trial for Sjögren's disease.
• Following the positive news, Amgen's stock price increased by $17.08, closing at $410.24 for the day.

Amgen is a leading biotechnology company that discovers, develops, and delivers innovative human therapeutics. The company primarily focuses on areas of high unmet medical need to treat serious illnesses. With a market capitalization of approximately $221.41 billion, it is a significant player in the pharmaceutical industry.

On September 23, 2026, analyst Akash Tewari of Jefferies raised the price target for Amgen to $410.00. A price target represents an analyst's projection of a stock's future value. This new target was established when the stock was trading at $410.24, reflecting confidence in the company's recent performance and future prospects.

This positive analyst outlook follows major news from Amgen's drug development pipeline. As highlighted by Reuters, Amgen announced that its experimental drug, dazodalibep, successfully met its primary goal in a late-stage clinical trial. The drug is intended to treat Sjögren's disease, an autoimmune condition affecting the body's moisture-producing glands.

The Phase 3 study demonstrated a statistically significant and clinically meaningful improvement for adult patients with the disease. This improvement was measured by the EULAR Sjögren's Syndrome Disease Activity Index (ESSDAI). Positive effects were observed as early as Week 4 and were maintained through Week 48 of the trial.

Following the news, Amgen's stock price increased by $17.08, or 4.34%, to close at $410.24 for the day. The stock's trading session saw a high of $412.76 and a low of $398.53, with a daily trading volume of about 3.55 million shares.