Bailard Inc. Has $14.50 Million Position in Amgen Inc. (NASDAQ:AMGN)

Bailard Inc. raised its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 2.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,533 shares of the medical research company's stock after acquiring an additional 1,008 shares during the quarter. Bailard Inc.'s holdings in Amgen were worth $14,497,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its stake in shares of Amgen by 23.5% in the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock worth $7,159,000 after buying an additional 5,226 shares during the last quarter. Proficio Capital Partners LLC lifted its stake in shares of Amgen by 35.0% in the fourth quarter. Proficio Capital Partners LLC now owns 1,806 shares of the medical research company's stock worth $471,000 after buying an additional 468 shares during the last quarter. Madison Investment Advisors LLC acquired a new stake in shares of Amgen in the fourth quarter worth $1,948,000. Cozad Asset Management Inc. lifted its stake in shares of Amgen by 5.9% in the fourth quarter. Cozad Asset Management Inc. now owns 1,795 shares of the medical research company's stock worth $468,000 after buying an additional 100 shares during the last quarter. Finally, Mystic Asset Management Inc. lifted its stake in shares of Amgen by 75.7% in the fourth quarter. Mystic Asset Management Inc. now owns 1,267 shares of the medical research company's stock worth $330,000 after buying an additional 546 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMGN has been the subject of several research analyst reports. Erste Group Bank cut shares of Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Mizuho upped their target price on shares of Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Morgan Stanley reiterated an "equal weight" rating on shares of Amgen in a research note on Friday, May 2nd. Cantor Fitzgerald reiterated a "neutral" rating and set a $305.00 target price on shares of Amgen in a research note on Tuesday, June 24th. Finally, UBS Group reiterated a "neutral" rating and set a $315.00 target price (down from $319.00) on shares of Amgen in a research note on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $307.82.

Amgen Stock Up 2.2%

Shares of NASDAQ:AMGN opened at $299.02 on Thursday. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The company's 50-day moving average price is $284.80 and its two-hundred day moving average price is $288.65. The company has a quick ratio of 0.88, a current ratio of 1.17 and a debt-to-equity ratio of 8.70. The firm has a market cap of $160.79 billion, a P/E ratio of 27.28, a P/E/G ratio of 2.64 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.18 by $0.72. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The company had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.05 billion. During the same period in the prior year, the company posted $3.96 EPS. The company's revenue was up 9.4% compared to the same quarter last year. As a group, research analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Insider Transactions at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the transaction, the senior vice president directly owned 8,162 shares in the company, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.76% of the company's stock.

Amgen Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.

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