Amgen stock holds steady as late-breaking Phase 3 Sjogrens results

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Amgen stock is little changed today

Highlights

Amgen reported positive Phase 3 results for its investigational Sjogrens disease therapy, showing reduced systemic disease activity and improved symptoms.
52 of 136 analysts rate Amgen stock a buy while 17 recommend selling and the median price target is $405.
Amgen stock is little changed on the day, trading near $465.27.

Amgen presented late-breaking Phase 3 results at ACR26 on its investigational therapy for Sjogrens disease. The company said the study demonstrated improvements in systemic disease activity and patient symptoms. Amgen reported positive results from the Phase 3 OASIZ-301 trial for dazodalibep in Sjogrens disease, showing reduced disease activity, as first announced on October 28, 2026, according to Simply Wall St.

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Bullish daily setup holds as wide range tests key supports

The latest session featured a notably wide intraday range between $459.45 and $468.8, expanding well beyond its weekly average. Shares of Amgen continue to hold above their MA-20, MA-50, and MA-200, which maintains a bullish daily setup. The RSI at 61.6 is now approaching overbought territory, which serves as an early indication that recent gains could be getting stretched. Immediate support is marked by the weekly low at $454.46.

Upside odds remain high as price holds above weekly low

To determine whether the regulation-related move is being priced in, traders should monitor whether there is follow-through beyond the recent volatility band. Amgen traded broadly between $459.45 and $468.8 in the latest session. From here, the probability of upside is more than 80%, while downside risk is less than 20% over the coming trading week, with an expected range between $452.81 and $477.72. A close above $482.31 would confirm buyers are willing to advance further, while a drop below $454.46 would indicate the move is being faded. On the weekly chart the longer-term picture stays firmly constructive.

Previously, it was reported that Amgen's bullish technical profile was supported by ongoing clinical advances and robust earnings momentum. With the company now highlighting significant Phase 3 results for its Sjogrens therapy and technical signals indicating a stretch in recent gains, traders should monitor for any sustained price movement outside the current volatility band as confirmation of the next directional trend.

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