Amgen Acquires Dark Blue Therapeutics for Up to $840 Million
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 06 2026
0mins
Source: NASDAQ.COM
- Acquisition Strategy: Amgen's acquisition of UK-based Dark Blue Therapeutics for up to $840 million enhances its research capabilities in acute myeloid leukemia (AML), further expanding its oncology product portfolio.
- Innovative Drug Development: This acquisition provides Amgen with an investigational small molecule that targets and degrades two proteins driving specific AML types, indicating potential in overcoming treatment resistance and enhancing remission durability.
- Preclinical Data Support: Promising anti-cancer activity and mechanistic differentiation from existing therapies have been demonstrated in leukemia models, suggesting new treatment options for both single-agent and combination therapies.
- Integration of R&D Resources: Amgen plans to integrate Dark Blue Therapeutics into its existing research organization, thereby strengthening its early oncology discovery efforts and enhancing its competitive position in the rapidly evolving cancer treatment market.
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Analyst Views on AMGN
Wall Street analysts forecast AMGN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for AMGN is 345.87 USD with a low forecast of 272.00 USD and a high forecast of 425.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
19 Analyst Rating
11 Buy
7 Hold
1 Sell
Moderate Buy
Current: 342.940
Low
272.00
Averages
345.87
High
425.00
Current: 342.940
Low
272.00
Averages
345.87
High
425.00
About AMGN
Amgen Inc. is a biotechnology company. It discovers, develops, manufactures and delivers medicines for the toughest diseases. It focuses on areas of high unmet medical need and leverages its expertise to strive for solutions that improve people’s lives. It operates in the human therapeutics segment. Its marketed products portfolio includes EPOGEN (epoetin alfa); Aranesp (darbepoetin alfa); Parsabiv (etelcalcetide); Neulasta (pegfilgrastim); KANJINTI (trastuzumab-anns); Otezla; BLINCYTO (blinatumomab); ACTIMMUNE (interferon gamma-1b); Neulasta (pegfilgrastim); Sensipar/Mimpara (cinacalcet); Prolia (denosumab); ENBREL; QUINSAIR (levofloxacin); Repatha (evolocumab) and others. It markets ENBREL, a tumor necrosis factor blocker, in the United States and Canada. It markets Otezla, a small molecule that inhibits phosphodiesterase 4, in many countries around the world. It markets Repatha, a proprotein convertase subtilisin/kexin type 9 (PCSK9) inhibitor, in many countries around the world.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Eli Lilly Reaches $950 Billion Market Cap as GLP-1 Drug Leader
- Market Leadership: Eli Lilly has become the world's most valuable healthcare company with a market cap of approximately $950 billion, having seen its stock price soar 400% over the past five years, primarily driven by the popularity of its GLP-1 drugs, Mounjaro and Zepbound, indicating strong market demand and growth potential.
- New Drug Development Outlook: Amgen is developing a GLP-1 drug called MariTide, which offers a once-monthly injection treatment option that may appeal to patients preferring reduced injection frequency, thereby expanding its market share.
- Clinical Trial Results: In clinical trials, MariTide has demonstrated the ability to help patients lose up to 20% of their body weight over a 52-week period, comparable to existing GLP-1 treatments, highlighting its competitive edge in the weight loss market.
- Investment Value Analysis: Amgen's stock currently trades at a forward P/E ratio of 16, significantly lower than Eli Lilly's 32, indicating its relative undervaluation; if MariTide gains approval, the stock price could see substantial upside, making it an attractive investment opportunity.
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Eli Lilly vs Amgen: Stock Comparison Insights
- Valuation Discrepancy: Eli Lilly trades at over 30 times forward earnings with a market cap of approximately $950 billion, having seen a 400% stock price increase over the past five years, indicating strong performance in the GLP-1 drug market, yet its high valuation may pose risks for investors.
- Amgen's Potential: Amgen's GLP-1 drug MariTide is currently in phase 3 trials and may help patients lose up to 20% of their body weight over 52 weeks, with a forward P/E of just 16, suggesting a lower investment threshold and significant upside potential.
- Market Outlook: The GLP-1 drug market is projected to exceed $150 billion within the next decade, providing opportunities for companies like Eli Lilly and Amgen to capture substantial market share in this rapidly growing sector, attracting investor interest.
- Cautious Investment Advice: Despite MariTide's promising clinical results, analysts note that Amgen is not included in the current list of top investment stocks, urging investors to carefully assess potential risks and rewards before making investment decisions.
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