AMGN·Amgen Inc.

Amgen's oncology strategy and pipeline updates were recently presented at the Citi Oncology Leadership Summit, with a focus on differentiated therapies, including IMDELLTRA and LUMAKRAS. This expansion into more common solid tumors could signal positive momentum in AMGN's oncology portfolio, potentially influencing future revenue streams. The company is prioritizing T-cell engagers and precision small molecules. Concurrently, Wells Fargo raised its price target for AMGN to $375, reflecting a more optimistic outlook, although the firm maintained an Equal Weight rating. The maintained rating suggests a neutral view relative to peers, despite the price target increase. However, the termination of a collaboration with Apogee Pharmaceuticals has prompted analysts to reassess their expectations for AMGN, which may influence future revenue projections and investment strategies. Investors should monitor how this impacts AMGN's overall financial performance and pipeline development. Traders should watch for further clinical trial data and regulatory updates related to the oncology programs.