Assenagon Asset Management S.A. Acquires 1,344,010 Shares of Amgen Inc. $AMGN

Key Points

• Assenagon Asset Management increased its Amgen stake by 702.8%, acquiring 1.34 million additional shares to hold 1.54 million shares valued at approximately $647.1 million. Institutional investors collectively own 76.5% of Amgen.
• Amgen reported stronger-than-expected quarterly results, with EPS of $6.29 and revenue of $10.05 billion, up 9.5% year over year. The company also maintains a quarterly dividend of $2.52, equivalent to a 2.3% annual yield.
• The outlook is mixed: promising pipeline developments and analyst upgrades support the stock, but Amgen faces valuation concerns, insider selling, and a consensus analyst rating of Hold with an average price target of $387.93.

Assenagon Asset Management S.A. boosted its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 702.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,535,257 shares of the medical research company's stock after acquiring an additional 1,344,010 shares during the quarter. Assenagon Asset Management S.A. owned 0.28% of Amgen worth $647,126,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Wellington Altus USA Inc. lifted its position in shares of Amgen by 72.3% during the second quarter. Wellington Altus USA Inc. now owns 81 shares of the medical research company's stock valued at $28,000 after purchasing an additional 34 shares in the last quarter. Tower View Wealth Management LLC increased 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 during the last quarter. Nvwm LLC increased its stake in Amgen by 412.5% in the 3rd quarter. Nvwm LLC now owns 82 shares of the medical research company's stock valued at $35,000 after buying an additional 66 shares during the last quarter. Security National Bank of Sioux City Iowa IA purchased a new stake in Amgen in the 2nd quarter valued at about $36,000. Finally, Evergreen Advisors LLC bought a new position in shares of Amgen during the 1st quarter worth approximately $37,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Key Amgen News

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen and AstraZeneca reported positive Phase 3 results for Tezspire in eosinophilic esophagitis. Nearly 70% of patients receiving the higher dose achieved remission after 24 weeks, potentially expanding the drug’s addressable market in a condition with limited treatment options. What Could Amgen 70% Remission Trial Result Mean For Its Pipeline?
• Positive Sentiment: UBS raised its price target for AMGN to $470, signaling greater confidence in the company’s outlook and supporting investor sentiment. UBS raises target for Amgen stock to USD 470.00
• Positive Sentiment: Investors are focusing on Amgen’s broader pipeline, including the MariTide obesity program, planned Phase 3 diabetes studies and recent regulatory momentum. These programs offer potential long-term growth beyond Amgen’s established products. Amgen Gains as Investors Appear to Lean on Pipeline and Regulatory Momentum
• Positive Sentiment: Erste Group Bank increased its FY2027 EPS forecast to $24.66 from $24.36, adding to evidence that some analysts see improving earnings potential.
• Positive Sentiment: A broader rotation away from technology stocks toward defensive and consumer-oriented companies may be helping support sentiment toward large pharmaceutical stocks.
• Neutral Sentiment: Amgen’s dividend yield is approximately 2.3%. Its dividend-growth prospects are being compared favorably with Merck’s because of Amgen’s reported cash-flow cushion, although the analysis does not represent a new dividend announcement. AMGN vs. MRK: Which Pharma Giant's Dividend Actually Has Room to Grow
• Negative Sentiment: Risks remain: Bank of America Securities maintained a Sell rating, while recent insider activity showed seven sales and no purchases over six months. Some previously published analyst targets also remain well below the current trading range, highlighting valuation concerns. Bank of America Securities Remains a Sell on Amgen

Insider Activity

In related news, SVP Rachna Khosla sold 1,252 shares of the business's stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $416.43, for a total value of $521,370.36. Following the sale, the senior vice president directly owned 6,404 shares in the company, valued at approximately $2,666,817.72. The trade was a 16.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Nancy Grygiel sold 2,970 shares of the company's stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $402.16, for a total transaction of $1,194,415.20. Following the sale, the senior vice president directly owned 7,340 shares in the company, valued at approximately $2,951,854.40. This trade represents a 28.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 6,222 shares of company stock valued at $2,540,926. 0.85% of the stock is currently owned by insiders.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $434.03 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.13 and a debt-to-equity ratio of 4.44. The stock has a fifty day simple moving average of $415.11 and a two-hundred day simple moving average of $374.35. Amgen Inc. has a 1-year low of $288.00 and a 1-year high of $447.03. The firm has a market cap of $234.65 billion, a price-to-earnings ratio of 19.05, a price-to-earnings-growth ratio of 3.12 and a beta of 0.41.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.62 by $0.67. Amgen had a return on equity of 124.14% and a net margin of 22.95%. The firm had revenue of $10.05 billion for the quarter, compared to analyst estimates of $9.43 billion. During the same period in the previous year, the company posted $6.02 earnings per share. The business's revenue was up 9.5% on a year-over-year basis. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Analysts anticipate that Amgen Inc. will post 22.94 earnings per share for the current year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Friday, August 21st were issued a $2.52 dividend. The ex-dividend date of this dividend was Friday, August 21st. This represents a $10.08 annualized dividend and a yield of 2.3%. Amgen's dividend payout ratio (DPR) is 62.65%.

Analyst Upgrades and Downgrades

AMGN has been the topic of a number of research analyst reports. Piper Sandler boosted their target price on Amgen from $427.00 to $457.00 and gave the stock an "overweight" rating in a research note on Thursday, August 20th. Morgan Stanley reduced their target price on Amgen from $362.00 to $359.00 and set an "equal weight" rating for the company in a report on Wednesday, October 7th. Scotiabank increased their price target on Amgen from $450.00 to $500.00 and gave the company an "outperform" rating in a research report on Monday, September 28th. BMO Capital Markets decreased their price target on Amgen from $450.00 to $415.00 and set a "market perform" rating for the company in a research report on Monday. Finally, Canaccord Genuity Group lifted their price target on Amgen from $366.00 to $384.00 and gave the stock a "hold" rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, sixteen have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $387.93.

Amgen Profile

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research and commercial activities focus on areas including oncology, cardiovascular disease, inflammation, bone health, neuroscience and rare diseases. The company uses biologic research, human genetics and other advanced technologies to develop targeted therapies and supports patients through treatment and disease-management services.

Amgen's portfolio includes medicines such as Enbrel for inflammatory diseases; Prolia and Evenity for osteoporosis; Xgeva for cancer-related bone complications; Repatha for certain cardiovascular conditions; Otezla for inflammatory diseases; Aimovig for migraine prevention; Tezspire for severe asthma; and Lumakras for certain cancers.

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