Piper Sandler raises Amgen stock price target on drug pipeline

NodeGuardian · 2026-03-03T16:30:36+00:00

Piper Sandler raised Amgen's price target from $381 to $432, maintaining an Overweight rating after a discussion with management about Uplizna's expansion and promising trial results, along with strong Q4 2025 revenue growth.

NodeGuardian

2026-03-03 16:30:36

Abstract generation in progress

Piper Sandler has increased its price target for Amgen (NASDAQ: AMGN) shares from $381 to $432, reiterating an Overweight rating. This decision follows a fireside chat with Amgen senior management, discussing the expansion of Uplizna and the progress of AMG 104, along with positive Phase II results for daxdilimab and the Phase III program for dazodalibep. The revised target also incorporates updated modeling following Amgen’s strong fourth-quarter 2025 results, which showed nearly 10% revenue growth and higher sales estimates for key drugs.

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