Amgen Shares Dip 1.52% on 74th-Highest Volume as Analysts Boost Targets for Obesity Drug MariTide

Market Snapshot

, , . equities. Despite the drop, the company remains under active analyst scrutiny, with multiple firms maintaining or upgrading their price targets in anticipation of key clinical developments for its obesity drug MariTide.

Key Drivers

Analyst Reaffirmation and Price Target Hikes

Goldman Sachs reiterated its $400 price target and “Buy” rating for Amgen on November 25, 2025, emphasizing optimism around upcoming Phase 2 trial updates for MariTide. , with favorable such as reduced waist circumference and blood pressure. Goldman also noted the potential for MariTide to serve as a long-term maintenance therapy with reduced dosing frequency and minimal gastrointestinal side effects.

BMO Capital followed suit, . . .

Clinical Trial Progress and Regulatory Milestones

MariTide’s Phase 2 Part 2 data, expected by year-end, remains a focal point for investors. Goldman Sachs and BMO both underscored the importance of these results in validating the drug’s potential as a maintenance therapy, . Positive outcomes could differentiate MariTide in the obesity medication market, where competing therapies face challenges related to side effects and dosing regimens.

Amgen also reported regulatory and clinical progress in other therapeutic areas. The U.S. Food and Drug Administration granted full approval for IMDELLTRA, its drug, . Additionally, , further bolstering Amgen’s pipeline.

Earnings and Market Positioning

Amgen’s third-quarter 2025 earnings exceeded expectations, . , albeit with a “Neutral” rating. , . These results reflect Amgen’s resilience in a competitive biotech landscape, particularly as it navigates pricing pressures and patent expirations for older drugs.

Broader Sector Dynamics

The biotech sector as a whole benefited from an improving macroeconomic environment, which BMO Capital highlighted as a tailwind for Amgen. , . Goldman Sachs, however, noted that while Amgen is a “low volatility” investment, .

Conclusion

, Amgen’s stock remains anchored by robust analyst support, clinical progress for MariTide, and regulatory approvals across its pipeline. . Investors will closely monitor the Phase 2 Part 2 results for MariTide, .