Amgen Inc. $AMGN Position Boosted by Elevation Point Wealth Partners LLC

Key Points

• Elevation Point Wealth Partners boosted its Amgen stake by 91.9% in the first quarter, ending with 21,443 shares worth about $7.5 million. Institutional ownership overall remains high, at 76.5% of the stock.
• Amgen’s latest earnings beat expectations, with Q1 EPS of $5.15 versus estimates of $4.77 and revenue of $8.62 billion, up 5.8% year over year. The company also reaffirmed its full-year outlook, guiding for FY 2026 EPS of 21.7 to 23.1.
• Recent news flow was mixed but mostly constructive: a judge blocked Colorado’s price cap attempt on Enbrel, and analysts highlighted pipeline progress in drugs such as MariTide and olpasiran. Amgen still faces some competitive and regulatory pressure, including Roche’s lung-cancer data and a journal retraction tied to Tavneos.

Elevation Point Wealth Partners LLC increased its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 91.9% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,443 shares of the medical research company's stock after purchasing an additional 10,271 shares during the period. Elevation Point Wealth Partners LLC's holdings in Amgen were worth $7,545,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC increased its holdings in shares of Amgen by 23.5% in the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock valued at $7,159,000 after acquiring an additional 5,226 shares during the last quarter. Sivia Capital Partners LLC lifted its stake in Amgen by 10.6% during the second quarter. Sivia Capital Partners LLC now owns 1,186 shares of the medical research company's stock worth $331,000 after purchasing an additional 114 shares during the last quarter. Schnieders Capital Management LLC. boosted its holdings in Amgen by 29.3% in the second quarter. Schnieders Capital Management LLC. now owns 25,859 shares of the medical research company's stock worth $7,220,000 after purchasing an additional 5,853 shares during the period. Main Street Financial Solutions LLC boosted its holdings in Amgen by 11.3% in the second quarter. Main Street Financial Solutions LLC now owns 4,086 shares of the medical research company's stock worth $1,141,000 after purchasing an additional 416 shares during the period. Finally, Ieq Capital LLC increased its stake in Amgen by 5.1% during the second quarter. Ieq Capital LLC now owns 54,152 shares of the medical research company's stock valued at $15,120,000 after purchasing an additional 2,611 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Key Amgen News

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: A federal judge blocked Colorado’s attempt to cap the price of Amgen’s Enbrel, removing a potentially precedent-setting state-level pricing threat for one of Amgen’s most important legacy drugs. Article: Judge blocks Colorado's first-of-its-kind price cap on Amgen's Enbrel
• Positive Sentiment: Amgen continues to advance its pipeline, with updates on Rocatinlimab in asthma, evolocumab bioavailability, and AMG 133 in obesity, reinforcing the company’s long-term growth story. Article: Amgen’s Rocatinlimab Asthma Trial Reaches Phase 2 Finish Line Article: Amgen Refines Its PCSK9 Franchise with New Evolocumab Bioavailability Study Article: Amgen’s AMG 133 Trial Adds a New Data Point in the Obesity Drug Race
• Positive Sentiment: Analysts at Mizuho highlighted Amgen’s pipeline potential, especially MariTide and olpasiran, and raised their price target, signaling continued Street confidence in the company’s future growth prospects. Article: Mizuho Highlights Amgen (AMGN) Pipeline Potential With MariTide and Olpasiran
• Neutral Sentiment: Roche reported positive late-stage lung cancer data for divarasib versus drugs sold by Amgen and Bristol Myers, which adds competitive pressure in the oncology market but does not change Amgen’s fundamentals by itself. Article: Roche KRAS drug succeeds in head-to-head lung cancer study
• Negative Sentiment: A medical journal retracted a pivotal Tavneos paper, which could add to regulatory scrutiny around the drug and weigh on sentiment toward Amgen’s portfolio. Article: Medical journal retracts Tavneos pivotal paper amid wider regulatory clampdown

Amgen Stock Up 3.5%

AMGN stock opened at $374.15 on Friday. The stock has a market cap of $201.93 billion, a PE ratio of 26.04, a price-to-earnings-growth ratio of 3.56 and a beta of 0.41. The firm's 50-day simple moving average is $341.87 and its 200 day simple moving average is $347.74. Amgen Inc. has a fifty-two week low of $269.77 and a fifty-two week high of $391.29. The company has a quick ratio of 1.01, a current ratio of 1.26 and a debt-to-equity ratio of 5.65.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.77 by $0.38. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The firm had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.58 billion. During the same period in the previous year, the business posted $4.90 EPS. Amgen's revenue was up 5.8% on a year-over-year basis. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. As a group, sell-side analysts predict that Amgen Inc. will post 22.39 EPS for the current year.

Analysts Set New Price Targets

AMGN has been the topic of a number of research reports. Daiwa Securities Group dropped their target price on shares of Amgen from $410.00 to $390.00 and set an "outperform" rating on the stock in a report on Wednesday, May 13th. Leerink Partners reissued a "market perform" rating and issued a $355.00 target price on shares of Amgen in a report on Thursday, March 5th. Canaccord Genuity Group initiated coverage on Amgen in a report on Monday, April 20th. They set a "hold" rating and a $366.00 target price for the company. Wall Street Zen cut Amgen from a "buy" rating to a "hold" rating in a research report on Saturday, June 27th. Finally, Guggenheim cut their price target on Amgen from $351.00 to $340.00 and set a "neutral" rating on the stock in a report on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $355.50.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,237 shares of the business's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $323.73, for a total transaction of $400,454.01. Following the completion of the transaction, the senior vice president directly owned 7,009 shares in the company, valued at approximately $2,269,023.57. The trade was a 15.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.85% of the company's stock.

Amgen Profile

Amgen Inc NASDAQ: AMGN is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen's work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen's commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.

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