CIBC Asset Management Inc Buys 44,110 Shares of Amgen Inc. $AMGN

Key Points

• CIBC Asset Management increased its Amgen stake by 12.2% in the fourth quarter, buying 44,110 shares and bringing its total holding to 404,263 shares worth about $132.3 million.
• Amgen received a key catalyst in Europe as the European Commission approved Imdylltra for extensive-stage small cell lung cancer, following phase III results that showed a 40% reduction in the risk of death.
• The company posted solid quarterly results, with Q1 earnings of $5.15 per share beating estimates and revenue rising 5.8% year over year to $8.62 billion, while analysts currently have a consensus “Hold” rating on the stock.

CIBC Asset Management Inc increased its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 12.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 404,263 shares of the medical research company's stock after purchasing an additional 44,110 shares during the quarter. CIBC Asset Management Inc owned approximately 0.08% of Amgen worth $132,319,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. High Note Wealth LLC raised its stake in Amgen by 5.8% during the 4th quarter. High Note Wealth LLC now owns 508 shares of the medical research company's stock worth $166,000 after acquiring an additional 28 shares during the period. West Family Investments Inc. raised its stake in Amgen by 1.1% during the 3rd quarter. West Family Investments Inc. now owns 2,760 shares of the medical research company's stock worth $779,000 after acquiring an additional 30 shares during the period. Viawealth LLC raised its stake in Amgen by 0.4% during the 3rd quarter. Viawealth LLC now owns 7,168 shares of the medical research company's stock worth $2,023,000 after acquiring an additional 30 shares during the period. LOM Asset Management Ltd raised its stake in Amgen by 1.2% during the 3rd quarter. LOM Asset Management Ltd now owns 2,554 shares of the medical research company's stock worth $721,000 after acquiring an additional 30 shares during the period. Finally, Smith Salley Wealth Management raised its stake in Amgen by 0.3% during the 4th quarter. Smith Salley Wealth Management now owns 10,786 shares of the medical research company's stock worth $3,530,000 after acquiring an additional 30 shares during the period. 76.50% of the stock is owned by institutional investors.

Trending Headlines about Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: The European Commission approved Amgen’s Imdylltra for extensive-stage small cell lung cancer after phase III data showed a 40% reduction in the risk of death, a meaningful catalyst that could boost future sales and investor sentiment. EC approval for Amgen’s Imdylltra
• Positive Sentiment: Multiple follow-up reports highlighted the same EU approval, reinforcing the market’s view that Amgen is adding a potentially important growth driver to its oncology portfolio. Amgen Secures EU Nod for Imdylltra in Lung Cancer Indication
• Neutral Sentiment: Zacks also pointed to Amgen as a strong momentum stock, which supports the bullish technical narrative but does not add a new business-specific catalyst. Here's Why Amgen (AMGN) is a Strong Momentum Stock
• Neutral Sentiment: Analyst commentary on Amgen’s valuation suggests some upside remains, but it also notes that recent gains may already reflect much of the optimism, creating a more balanced long-term view. How The Amgen (AMGN) Story Is Evolving As Rare Disease Upside Meets Valuation Caution

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,237 shares of Amgen stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $323.73, for a total value of $400,454.01. Following the sale, the senior vice president directly owned 7,009 shares of the company's stock, 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 document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on AMGN shares. Rothschild & Co Redburn raised their price target on Amgen from $180.00 to $200.00 and gave the company a "sell" rating in a report on Wednesday, February 18th. Truist Financial raised their price target on Amgen from $325.00 to $327.00 and gave the company a "hold" rating in a report on Friday, May 1st. Citigroup raised their price target on Amgen from $315.00 to $345.00 and gave the company a "neutral" rating in a report on Wednesday, February 4th. TD Cowen reissued a "buy" rating on shares of Amgen in a report on Wednesday, February 4th. Finally, Erste Group Bank reissued a "hold" rating on shares of Amgen in a report on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Amgen currently has a consensus rating of "Hold" and an average target price of $355.19.

Amgen Price Performance

AMGN stock opened at $328.26 on Wednesday. Amgen Inc. has a one year low of $267.83 and a one year high of $391.29. 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 company's fifty day moving average price is $342.12 and its 200-day moving average price is $345.42. The company has a market capitalization of $177.17 billion, a PE ratio of 22.84, a price-to-earnings-growth ratio of 3.30 and a beta of 0.42.

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, topping 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 firm had revenue of $8.62 billion for the quarter, compared to analysts' expectations of $8.58 billion. During the same period in the previous year, the firm posted $4.90 earnings per share. The business's revenue was up 5.8% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. On average, equities analysts anticipate that Amgen Inc. will post 22.37 EPS for the current fiscal year.

About Amgen

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.

Want to see what other hedge funds are holding AMGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amgen Inc. (NASDAQ:AMGN - Free Report).

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.