JPMorgan HealthCare Conference Discloses MariTide Study Results

Written by Emily J. Thompson, Senior Investment Analyst

Updated: Jan 13 2026

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At the JPMorgan HealthCare conference, the company disclosed Results of MariTide Chronic Weight Management Phase 2 study, stating: "The large majority of participants maintained the weight loss achieved in Part 1 for an additional 52 weeks on a lower monthly dose or quarterly dose of MariTide; The second year of MariTide treatment was very well tolerated including at quarterly doses, with a very low incidence of nausea and vomiting and no new safety signals observed; Improvements in cardiometabolic parameters were sustained with MariTide at effective maintenance doses for a full second year."

AMGN

$342.22+Infinity%1D

Analyst Views on AMGN

Wall Street analysts forecast AMGN stock price to fall 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: 351.320

Low

272.00

Averages

345.87

High

425.00

Current: 351.320

Low

272.00

Averages

345.87

High

425.00

UBS

Buy

maintain

$380 -> $390

2026-01-26

New

Reason

UBS

Price Target

$380 -> $390

AI Analysis

2026-01-26

New

maintain

Buy

Reason

UBS raised the firm's price target on Amgen to $390 from $380 and keeps a Buy rating on the shares. The U.S. Pharmaceuticals and Biotechnology group is expected to perform well this year, supported by attractive valuations, light positioning, easing drug pricing overhangs, and continued pharma-led M&A activity that benefits biotech, the analyst tells investors in a research note. Despite concerns around conservative guidance after the recent rally, cheap big pharma and biotech valuations should sustain positive money flows into the sector, the firm says.

Bernstein

Outperform -> Market Perform

downgrade

$335

2026-01-20

Reason

Bernstein

Price Target

$335

2026-01-20

downgrade

Outperform -> Market Perform

Reason

Bernstein downgraded Amgen (AMGN) to Market Perform from Outperform with an unchanged price target of $335 to reflect the firm's view that "2026 is a waiting year" for MariTide. The downgrade also incorporates new overhangs, including risk to Repatha with Merck's (MRK) enlicitide pricing and debate around Lp(a) outcome impact until read-across for Novartis' (NVS) pelicarsen, the analyst tells investors.

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UBS

Neutral -> Buy

upgrade

$317 -> $380

2026-01-06

Reason

UBS

Price Target

$317 -> $380

2026-01-06

upgrade

Neutral -> Buy

Reason

UBS upgraded Amgen to Buy from Neutral with a price target of $380, up from $317, as the analyst assumed coverage of the stock. While the firm notes that there continues to be "significant debate with heavily bearish sentiment," it contends this could provide an opportunity as it sees upside from EPS and the pipeline, both from MariTide in obesity and a new Lp(a) cardiovascular drug in Phase 3 testing, the analyst tells investors.

Morgan Stanley

Equal Weight

downgrade

$329 -> $304

2025-12-12

Reason

Morgan Stanley

Price Target

$329 -> $304

2025-12-12

downgrade

Equal Weight

Reason

Morgan Stanley lowered the firm's price target on Amgen to $304 from $329 and keeps an Equal Weight rating on the shares. The firm expects many of the policy overhangs that dominated the biopharma conversation this year to wane in 2026, bringing the focus back to fundamentals, the analyst tells investors in a 2026 outlook note for the group.

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.