NEW YORK, Jan 10, 2026, 17:43 EST — Market closed.
- Amgen shares dropped again on Friday, underperforming the wider market rally.
- A Truist analyst maintained a “hold” rating but raised the price target slightly.
- Next week’s J.P. Morgan Healthcare Conference and early-February earnings forecasts are in investors’ sights.
Shares of Amgen Inc. closed down on Friday, marking a second consecutive day of losses as investors prepared for a new batch of healthcare conference updates.
The timing is key as deal discussions pick up again with executives and bankers gathering in San Francisco for the J.P. Morgan Healthcare Conference, a major early-year event for the sector. Jeremy Meilman, JPMorgan’s global co-head of healthcare investment banking, noted that firms are “dusting off the playbook on the art of the possible.” Reuters
Amgen finds itself in a familiar yet tricky position: a large-cap biotech backed by reliable cash-flow drugs and a pipeline investors crave explained clearly. With the market kicking off the year chasing catalysts, even a slight change in tone can sway the tape.
Amgen slipped 1.21% to $326.10 on Friday, while the S&P 500 gained 0.65% and the Dow added 0.48%, MarketWatch reports. The stock had fallen 3.37% the previous day and now trades roughly 5.85% below its 52-week peak of $346.38 hit on Dec. 3. The sector showed mixed results Friday: Johnson & Johnson dipped 0.66%, Pfizer rose 0.75%, and AbbVie slid 1.81%.
On Friday, Amgen’s stock fluctuated from $323.96 up to $332.91, with roughly 3.7 million shares traded, according to LSEG data.
Truist Securities’ Gregory Renza kept a “hold” rating but nudged up his price target to $319 from $318, according to a Thursday note reported by MarketBeat.
Amgen is set to present next week. CEO Robert A. Bradway will speak Monday, Jan. 12, at 3:45 p.m. PT. Investors can watch via webcast.
JPMorgan’s event listing shows the conference is set for Jan. 12-15 in San Francisco. It typically sparks a flurry of portfolio chatter — partnerships, bolt-on acquisitions, the familiar search for revenue growth.
There’s a catch, though. If conference week delivers little in the way of solid updates—no fresh trial dates, no clearer guidance, no whispers of deals—Amgen could slip back into “defensive pharma” mode, tracking the broader healthcare sector instead of standing out on its own.
Investors are now turning their attention to earnings, with Amgen set to report on Feb. 3, per Investing.com. This will refocus attention on sales trends and guidance for 2026.
Investors targeting income are watching the dividend calendar closely, noting the record date is Feb. 13 and the payment follows on March 6, according to Amgen’s official dividend history.
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