Resona Asset Management Co. Ltd. Raises Position in Amgen Inc. $AMGN

Key Points

• Resona Asset Management increased its Amgen stake by 2.1% in the first quarter, adding 3,704 shares and bringing its total holding to 176,626 shares worth about $62.1 million.
• Amgen continues to attract significant institutional interest, with 76.5% of the stock owned by institutions; several other firms also recently boosted or initiated positions.
• Analyst sentiment remains mixed but generally cautious: the stock’s consensus rating is “Hold” with an average price target of $355.73, while recent results showed EPS and revenue both topping estimates.

Resona Asset Management Co. Ltd. boosted its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 2.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 176,626 shares of the medical research company's stock after purchasing an additional 3,704 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Amgen were worth $62,052,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMGN. Robeco Institutional Asset Management B.V. increased its holdings in Amgen by 10.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 481,453 shares of the medical research company's stock valued at $157,584,000 after purchasing an additional 43,884 shares during the period. Curtis Advisory Group LLC purchased a new stake in Amgen in the 4th quarter worth approximately $1,669,000. Adell Harriman & Carpenter Inc. lifted its holdings in Amgen by 7.9% in the 4th quarter. Adell Harriman & Carpenter Inc. now owns 22,008 shares of the medical research company's stock worth $7,204,000 after buying an additional 1,609 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Amgen in the 4th quarter worth approximately $22,441,000. Finally, Robinhood Asset Management LLC purchased a new position in shares of Amgen during the fourth quarter valued at approximately $17,526,000. 76.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AMGN has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their target price on Amgen from $375.00 to $390.00 and gave the company an "equal weight" rating in a report on Thursday, March 19th. UBS Group boosted their price objective on shares of Amgen from $390.00 to $400.00 and gave the company a "buy" rating in a research report on Monday, April 13th. Weiss Ratings restated a "buy (b)" rating on shares of Amgen in a report on Thursday, June 18th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $350.00 target price on shares of Amgen in a research report on Monday. Finally, Morgan Stanley cut their target price on shares of Amgen from $340.00 to $333.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $355.73.

Amgen Trading Down 0.0%

NASDAQ AMGN opened at $367.99 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.26 and a debt-to-equity ratio of 5.65. Amgen Inc. has a twelve month low of $269.77 and a twelve month high of $391.29. The firm has a market capitalization of $198.61 billion, a PE ratio of 25.61, a P/E/G ratio of 3.63 and a beta of 0.41. The stock's 50 day moving average is $343.82 and its 200 day moving average is $348.97.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The medical research company reported $5.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.77 by $0.38. The business had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.58 billion. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The firm's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.90 earnings per share. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Research analysts forecast that Amgen Inc. will post 22.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Amgen

In related news, SVP Nancy A. Grygiel sold 1,237 shares of the 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 transaction, the senior vice president directly owned 7,009 shares in the company, valued at $2,269,023.57. This trade represents a 15.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.85% of the stock is owned by corporate insiders.

Key Stories Impacting Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Truist raised its price target on Amgen to $340 while keeping a hold rating, and Cantor Fitzgerald reaffirmed a neutral view, signaling that analysts still see value in the name even after the recent run-up. Benzinga analyst update
• Positive Sentiment: Biotech sentiment got a lift after Jim Cramer called the group “the hottest in the market,” citing a potentially stronger M&A environment that could benefit large-cap players like Amgen. Cramer biotech commentary
• Neutral Sentiment: Amgen’s dividend drew fresh attention, with an article arguing the payout still appears supported, but near-term headwinds could limit upside until operational concerns fade. Dividend safety article
• Negative Sentiment: Amgen initiated voluntary nationwide recalls of certain Corlanor and Sensipar lots due to foreign substances and CGMP deviations, raising quality-control and compliance concerns for investors. Recall coverage
• Negative Sentiment: Repeated recall headlines are putting Amgen’s manufacturing standards and risk profile back in focus, which could pressure the stock despite earlier momentum. Valuation and recall story
• Negative Sentiment: While Amgen won a preliminary injunction blocking Colorado’s proposed 70% price cap on Enbrel, that legal fight underscores ongoing pricing risk for one of its key drugs. Enbrel pricing article

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.

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.