Elyxium Wealth LLC Invests $618,000 in Amgen Inc. (NASDAQ:AMGN)

Elyxium Wealth LLC bought a new position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,983 shares of the medical research company's stock, valued at approximately $618,000.

Several other large investors also recently made changes to their positions in AMGN. Pinney & Scofield Inc. acquired a new position in Amgen in the fourth quarter valued at about $26,000. First Pacific Financial boosted its position in Amgen by 304.5% during the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after acquiring an additional 67 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE boosted its position in Amgen by 66.2% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock worth $33,000 after acquiring an additional 51 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in shares of Amgen during the 4th quarter worth approximately $36,000. Finally, Legacy Investment Solutions LLC raised its stake in shares of Amgen by 46.9% during the 4th quarter. Legacy Investment Solutions LLC now owns 141 shares of the medical research company's stock worth $37,000 after purchasing an additional 45 shares in the last quarter. Institutional investors own 76.50% of the company's stock.

Analyst Ratings Changes

AMGN has been the topic of several recent research reports. UBS Group reiterated a "neutral" rating and set a $315.00 price objective (down previously from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Erste Group Bank lowered Amgen from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Piper Sandler reissued an "overweight" rating and set a $328.00 target price on shares of Amgen in a report on Friday, June 27th. William Blair reaffirmed an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. Finally, Guggenheim assumed coverage on Amgen in a research note on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Amgen currently has a consensus rating of "Hold" and a consensus price target of $307.82.

Amgen Stock Down 1.2%

Shares of NASDAQ:AMGN opened at $294.76 on Friday. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The business has a 50 day simple moving average of $285.90 and a two-hundred day simple moving average of $289.35. The firm has a market capitalization of $158.50 billion, a PE ratio of 26.89, a price-to-earnings-growth ratio of 2.66 and a beta of 0.49. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly 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. The firm had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. Amgen had a return on equity of 176.11% and a net margin of 17.39%. Amgen's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.96 earnings per share. On average, equities analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Insider Activity at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the transaction, the senior vice president directly owned 8,162 shares of the company's stock, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.76% of the stock is owned by company insiders.

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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.