BMO Capital has upgraded its price target for Amgen (AMGN) to $310, reflecting strengthened expectations for the clinical and commercial potential of its MariTide program. The move underscores growing investor confidence in Amgen’s biotechnology pipeline amid positive development milestones.
- BMO Capital raised Amgen’s price target to $310 from $280
- MariTide program shows promising Phase 2 trial results with biomarker improvements
- Regulatory submission timeline for MariTide now projected for late 2027
- Amgen’s R&D spend reached $7.2 billion in FY2024, reflecting pipeline prioritization
- MariTide is a key candidate within Amgen’s biotechnology segment, contributing to over 60% of revenue
- Stock currently trades in a $268–$287 range, implying ~10% upside potential
BMO Capital Markets has increased its price target for Amgen Inc. (AMGN) to $310, up from $280, citing improved visibility into the MariTide program’s development trajectory. The strategic upgrade follows recent advancements in Phase 2 trials for MariTide, a next-generation investigational therapy targeting inflammatory and metabolic disorders, with data demonstrating significant reductions in key biomarkers. The MariTide program is positioned as a critical growth catalyst for Amgen, with analysts noting its potential to address unmet needs in autoimmune and chronic inflammatory conditions. Positive interim results from ongoing trials have enhanced the projected timeline for regulatory submissions, now anticipated by late 2027, a shift that supports earlier commercialization expectations. Amgen’s biotechnology segment, which accounts for over 60% of its total revenue, is under increasing scrutiny for innovation momentum. The company reported $29.8 billion in revenue for the fiscal year ending September 2024, with R&D expenses rising 12% year-over-year to $7.2 billion—indicating continued investment in pipeline candidates like MariTide. The stock has traded within a $268–$287 range over the past six months, with the new price target suggesting a 10% upside potential based on current market pricing. The price target revision is expected to influence institutional trading activity and may prompt further analyst reviews within the healthcare sector. Investors in biotechnology stocks, particularly those focused on autoimmune therapies, are closely monitoring developments around MariTide as a potential differentiator for Amgen’s long-term valuation.