Amgen Inc. (AMGN) Completes Phase 3 Trial for ABP 206 Opdivo Biosimilar Candidate

Amgen Inc. (NASDAQ:AMGN) is one of the 10 best stocks to invest in during a recession.

On February 27, 2026, Amgen Inc. (NASDAQ:AMGN)’s Phase 3 study (NCT05907122) saw an update. The study investigating ABP 206, a biosimilar candidate for Opdivo (nivolumab), has officially reached Completed status. The trial enrolled 256 subjects with resected stage III or IV melanoma to demonstrate pharmacokinetic similarity and clinical efficacy over a 12-month adjuvant period. The primary completion was reached in March 2025, and final updates were posted in late February 2026. Data is likely being analyzed to support regulatory filings. If successful, ABP 206 could establish Amgen Inc. (NASDAQ:AMGN) as a key provider of lower-cost immunotherapy for advanced melanoma.

On February 19, 2026, Wells Fargo raised the price target on Amgen Inc. (NASDAQ:AMGN) from $325 to $375 while maintaining an Equal Weight rating. The firm is revising its valuation model to incorporate 10-K financial updates. It also noted that it is assigning new price targets to reflect the additional value of its Phase 3 pipeline assets.

Founded in 1980, Amgen Inc. (NASDAQ:AMGN) is a leading global biotechnology company focused on discovering, developing, and manufacturing innovative human therapeutics for serious illnesses. Its headquarters is in California.

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