Bernstein Calls 2026 a "Waiting Year" for Amgen's (AMGN) MariTide

Amgen Inc. (NASDAQ:AMGN) is included among the 15 Best S&P 500 Dividend Stocks to Buy in 2026.

On January 20, Bernstein downgraded Amgen Inc. (NASDAQ:AMGN) to Market Perform from Outperform, while leaving its $335 price target unchanged. The firm said the decision was mainly driven by its view that “2026 is a waiting year” for MariTide. Bernstein also flagged a few new issues that could hang over the stock, including possible risk to Repatha as Merck’s (MRK) enlicitide pricing comes into focus. The analyst also noted there is still uncertainty around how meaningful Lp(a) outcomes could be, with more clarity expected only after investors can draw comparisons from Novartis’ (NVS) pelicarsen data.

Separately, on January 6, Amgen said it will acquire Dark Blue Therapeutics Ltd., a privately held biotech company based in the U.K. The transaction is valued at up to $840 million.

This deal strengthens Amgen’s oncology pipeline by adding an investigational small molecule aimed at degrading two proteins, MLLT1/3, which are believed to drive certain forms of acute myeloid leukemia (AML), a fast-moving blood cancer. Amgen pointed to encouraging preclinical results in leukemia models, showing anti-cancer activity and a mechanism that appears distinct from existing treatments. That differentiation could support both single-agent use and combinations, especially in cases where resistance becomes a problem and longer-lasting remission is the goal.

Amgen also said it plans to integrate Dark Blue into its existing research organization, which should further support its early-stage oncology discovery work.

Amgen Inc. (NASDAQ:AMGN) is a global biotech company focused on discovering, developing, manufacturing, and delivering innovative medicines for patients facing some of the world’s toughest diseases.

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