Sanders Morris Harris LLC Makes New Investment in Amgen Inc. $AMGN

Key Points

• Sanders Morris Harris LLC initiated a new Amgen position by purchasing 4,292 shares worth approximately $1.81 million in the third quarter. Institutional investors and hedge funds collectively own 76.5% of Amgen’s stock.
• Amgen reported strong quarterly results, with EPS of $6.29 beating estimates and revenue rising 9.5% year over year to $10.05 billion. The company also pays a quarterly dividend of $2.52, representing a 2.4% annualized yield.
• Analyst sentiment remains mixed: positive Tezspire trial results and raised price targets support the outlook, but Amgen has a consensus “Hold” rating, valuation concerns, and continued insider selling.

Sanders Morris Harris LLC bought a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,292 shares of the medical research company's stock, valued at approximately $1,809,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. N10 Wealth LLC raised its stake in Amgen by 62.6% in the third quarter. N10 Wealth LLC now owns 1,177 shares of the medical research company's stock valued at $496,000 after purchasing an additional 453 shares in the last quarter. First Citizens Bank & Trust Co. increased its stake in Amgen by 68.0% in the third quarter. First Citizens Bank & Trust Co. now owns 16,328 shares of the medical research company's stock valued at $6,882,000 after acquiring an additional 6,611 shares during the last quarter. ASK Capital Investment Managers LLC bought a new position in Amgen in the third quarter valued at approximately $2,975,000. JM2 Capital Inc. acquired a new position in Amgen during the third quarter valued at approximately $219,000. Finally, Signal Advisors Wealth LLC raised its position in Amgen by 19.4% during the third quarter. Signal Advisors Wealth LLC now owns 2,437 shares of the medical research company's stock valued at $1,027,000 after purchasing an additional 396 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Key Amgen News

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Promising Tezspire trial results: Amgen and AstraZeneca reported positive Phase 3 results for Tezspire in eosinophilic esophagitis. Nearly 70% of patients receiving the higher dose achieved remission at week 24, 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 to $470, signaling additional upside and reinforcing optimism about Amgen’s pipeline and earnings outlook. Cantor Fitzgerald also recently lifted its target to $440. UBS Raises Target for Amgen Stock
• Positive Sentiment: Pipeline and regulatory momentum remain supportive. Investors are focused on the obesity candidate MariTide, with three Phase 3 diabetes studies expected to begin in 2026, as well as the recent European authorization for Jascayd. Erste Group also raised its FY2027 EPS estimate to $24.66 from $24.36, above the current-year consensus of $22.94.
• Neutral Sentiment: Evenity development continues: Amgen initiated a Phase 1 study evaluating a new delivery approach for the osteoporosis drug Evenity. The study could improve convenience or broaden commercial potential, but it remains an early-stage program. Amgen Fine-Tunes Evenity Delivery
• Negative Sentiment: Valuation and analyst disagreement remain risks. Bank of America Securities maintained a Sell rating, while several previously issued targets were well below the current trading range. Insiders have also reported seven open-market sales and no purchases during the past six months, which may weigh on sentiment.

Amgen Trading Up 3.2%

NASDAQ AMGN traded up $13.27 on Wednesday, hitting $426.11. The company's stock had a trading volume of 3,078,575 shares, compared to its average volume of 2,749,854. The company has a quick ratio of 1.13, a current ratio of 1.37 and a debt-to-equity ratio of 4.44. Amgen Inc. has a 1-year low of $288.00 and a 1-year high of $447.03. The company's 50-day moving average is $414.16 and its 200 day moving average is $373.24. The firm has a market cap of $230.37 billion, a PE ratio of 26.48, a PEG ratio of 3.01 and a beta of 0.41.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly 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. The firm had revenue of $10.05 billion during the quarter, compared to the consensus estimate of $9.43 billion. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The company's revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the firm earned $6.02 earnings per share. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. As a group, analysts predict that Amgen Inc. will post 22.94 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business 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. This represents a $10.08 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Friday, August 21st. Amgen's dividend payout ratio is presently 62.65%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on AMGN shares. Argus upped their target price on Amgen from $375.00 to $460.00 and gave the stock a "buy" rating in a research note on Wednesday, August 19th. Citigroup lifted their price target on Amgen from $345.00 to $405.00 and gave the company a "neutral" rating in a research note on Friday, August 7th. Mizuho lifted their price target on Amgen from $303.00 to $352.00 and gave the company a "neutral" rating in a research note on Tuesday, August 18th. Wells Fargo & Company lowered their price target on Amgen from $435.00 to $430.00 and set an "equal weight" rating for the company in a report on Monday. Finally, HSBC downgraded Amgen from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $445.00 to $425.00 in a research report on Thursday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, sixteen have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Amgen currently has a consensus rating of "Hold" and an average price target of $387.93.

Insider Buying and Selling at Amgen

In related news, SVP Rachna Khosla sold 2,000 shares of the firm's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $412.57, for a total transaction of $825,140.00. Following the completion of the transaction, the senior vice president directly owned 6,404 shares of the company's stock, valued at $2,642,098.28. This trade represents a 23.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Nancy Grygiel sold 2,970 shares of Amgen stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $402.16, for a total value of $1,194,415.20. Following the transaction, the senior vice president directly owned 7,340 shares in the company, valued at $2,951,854.40. The trade was a 28.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 6,222 shares of company stock valued at $2,540,926. 0.85% of the stock is owned by corporate insiders.

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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