Amgen Inc. $AMGN Shares Sold by Fideuram Intesa Sanpaolo Private Banking S.P.A.

Key Points

• Fideuram Intesa Sanpaolo Private Banking S.P.A. reduced its Amgen stake by 32.5% in the first quarter, selling 22,287 shares and ending with 46,275 shares valued at about $16.3 million.
• Amgen has several mixed but mostly supportive developments in the news, including a judge blocking Colorado’s attempted price cap on Enbrel and analysts pointing to pipeline assets like MariTide and olpasiran as growth drivers.
• The stock has seen solid operating results, with the latest quarterly earnings topping estimates and revenue rising 5.8% year over year, even as analysts overall still rate the shares a consensus Hold with an average price target of $355.50.

Fideuram Intesa Sanpaolo Private Banking S.P.A. decreased its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 32.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,275 shares of the medical research company's stock after selling 22,287 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A.'s holdings in Amgen were worth $16,282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Anfield Capital Management LLC lifted its holdings in Amgen by 1,000.0% during the fourth quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company's stock valued at $25,000 after purchasing an additional 70 shares in the last quarter. Dogwood Wealth Management LLC increased its stake in shares of Amgen by 275.0% during the fourth quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company's stock worth $25,000 after purchasing an additional 55 shares in the last quarter. Board of the Pension Protection Fund acquired a new position in shares of Amgen during the 4th quarter worth about $26,000. Tower View Wealth Management LLC lifted its stake in Amgen by 331.6% in the 1st quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company's stock valued at $29,000 after buying an additional 63 shares in the last quarter. Finally, Manning & Napier Advisors LLC lifted its stake in Amgen by 49.2% in the 4th quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company's stock valued at $32,000 after buying an additional 32 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen News Summary

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

Analysts Set New Price Targets

AMGN has been the subject of several research reports. Cantor Fitzgerald reiterated a "neutral" rating and set a $350.00 price objective on shares of Amgen in a research note on Wednesday, April 8th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Amgen in a research note on Thursday, June 18th. Jefferies Financial Group assumed coverage on Amgen in a research report on Tuesday, March 10th. They set a "hold" rating and a $350.00 price target for the company. BMO Capital Markets reissued an "outperform" rating and issued a $400.00 price objective on shares of Amgen in a research note on Wednesday. Finally, Canaccord Genuity Group started coverage on Amgen in a report on Monday, April 20th. They issued a "hold" rating and a $366.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Amgen currently has a consensus rating of "Hold" and an average price target of $355.50.

Amgen Stock Performance

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

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

Insider Activity

In related news, SVP Nancy A. Grygiel sold 1,237 shares of the company's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $323.73, for a total value of $400,454.01. Following the completion of the sale, the senior vice president owned 7,009 shares of the company's stock, valued at approximately $2,269,023.57. This represents a 15.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.85% of the company's stock.

Amgen Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.