Guggenheim Adjusts Amgen Inc. (AMGN) PT to $351, Cites Updated Model Ahead of Earnings

We recently compiled a list of the 10 Most Undervalued Dow Stocks to Buy Now. Amgen Inc. is one of the most undervalued stocks on this list.

TheFly reported on April 9 that Guggenheim increased its price target on AMGN from $347 to $351 while maintaining a Neutral rating on the stock. The firm noted that it is updating its financial model ahead of the company’s first-quarter results, which are expected after market close on April 30.

In a separate movement, on April 6, Amgen Inc. (NASDAQ:AMGN) announced positive topline Phase 3 results for TEPEZZA delivered through a subcutaneous on-body injector in patients with moderate-to-severe active thyroid eye disease. The study achieved its primary endpoint, showing a 77% proptosis response rate compared with 19.6% for placebo over 24 weeks, with a mean eye bulge reduction of -3.17 mm versus -0.80 mm.

Guggenheim Adjusts Amgen Inc. (AMGN) PT to $351, Cites Updated Model Ahead of Earnings

The trial also met multiple secondary endpoints, including improvements in diplopia outcomes, disease activity scores, quality-of-life measures, and overall responder rates, with statistically significant benefits across most measures. Safety findings were consistent with the known intravenous formulation profile, with mainly mild-to-moderate injection site reactions and no treatment discontinuations. The subcutaneous delivery system demonstrated comparable efficacy to the established IV formulation, offering a more convenient administration option while maintaining strong clinical performance in a condition that can significantly impair vision and daily functioning.

Amgen Inc. (NASDAQ:AMGN) is a leading global biotechnology company focused on developing innovative human therapeutics. It specializes in treatments for oncology, cardiovascular disease, inflammation, bone health, and rare diseases, using advanced biologics and genetic science to address serious illnesses worldwide.

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