Valley Wealth Managers Inc. Reduces Stock Position in Amgen Inc. $AMGN

Key Points

• Valley Wealth Managers Inc. cut its Amgen stake by 18.7% in the first quarter, selling 15,907 shares and leaving it with 69,051 shares worth about $24.3 million.
• Amgen continues to draw mixed analyst sentiment: the stock’s consensus rating remains Hold, with a consensus price target of $356.62, even as several firms maintained buy or outperform views.
• Recent news on Amgen’s pipeline is split, with positive updates on its obesity program, but setbacks from the termination of late-stage bemarituzumab and rocatinlimab studies weighing on expectations.

Valley Wealth Managers Inc. trimmed its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 18.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 69,051 shares of the medical research company's stock after selling 15,907 shares during the period. Amgen comprises approximately 1.6% of Valley Wealth Managers Inc.'s holdings, making the stock its 25th largest holding. Valley Wealth Managers Inc.'s holdings in Amgen were worth $24,296,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in AMGN. Brighton Jones LLC lifted its position in shares of Amgen by 23.5% during the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock worth $7,159,000 after purchasing an additional 5,226 shares during the last quarter. Sivia Capital Partners LLC grew its stake in Amgen by 10.6% in the second quarter. Sivia Capital Partners LLC now owns 1,186 shares of the medical research company's stock worth $331,000 after purchasing an additional 114 shares in the last quarter. Schnieders Capital Management LLC. increased its holdings in Amgen by 29.3% in the second quarter. Schnieders Capital Management LLC. now owns 25,859 shares of the medical research company's stock valued at $7,220,000 after buying an additional 5,853 shares during the last quarter. Main Street Financial Solutions LLC increased its holdings in Amgen by 11.3% in the second quarter. Main Street Financial Solutions LLC now owns 4,086 shares of the medical research company's stock valued at $1,141,000 after buying an additional 416 shares during the last quarter. Finally, Ieq Capital LLC raised its stake in Amgen by 5.1% during the second quarter. Ieq Capital LLC now owns 54,152 shares of the medical research company's stock valued at $15,120,000 after buying an additional 2,611 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AMGN. Morgan Stanley reduced their target price on Amgen from $340.00 to $333.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 8th. Weiss Ratings lowered Amgen from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday. The Goldman Sachs Group set a $389.00 price target on Amgen in a research report on Friday, June 5th. BMO Capital Markets restated an "outperform" rating and set a $400.00 price objective on shares of Amgen in a research note on Wednesday, July 1st. Finally, Truist Financial lifted their price objective on shares of Amgen from $327.00 to $340.00 and gave the stock a "hold" rating in a report on Tuesday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $356.62.

Amgen News Summary

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen advanced its obesity pipeline with fresh Phase 1 data on AMG 133 injection formats, which could support long-term growth if the program continues to show promise. Amgen Advances Obesity Pipeline With Fresh Data on AMG 133 Injection Formats
• Positive Sentiment: Amgen’s stock was highlighted in market coverage as teasing a buy point, suggesting technical traders may see room for upside if broader market conditions stabilize. Stock Market Today: Dow Sees Red While Amgen Shares Tease A Buy Point (Live Coverage)
• Neutral Sentiment: Amgen remains a candidate for another earnings beat, according to recent coverage pointing to its history of topping estimates and solid fundamentals. Will Amgen (AMGN) Beat Estimates Again in Its Next Earnings Report?
• Neutral Sentiment: Erste Group slightly lowered its FY2027 EPS estimate for Amgen to $23.58 from $23.62 and kept a Hold rating, a modest negative for sentiment but not a major change in the outlook. Amgen Inc. NASDAQ: AMGN Free Report
• Negative Sentiment: Amgen halted a late-stage bemarituzumab gastric cancer trial, adding uncertainty to part of its oncology pipeline and pressuring investor expectations. Amgen Halts Bemarituzumab Gastric Cancer Trial, Shifting Oncology Expectations
• Negative Sentiment: Amgen also terminated a key Phase 3 rocatinlimab eczema study, another setback that may raise concerns about the durability of its pipeline growth. Amgen’s Rocatinlimab Eczema Trial Termination Jolts Investor Expectations

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,237 shares of the firm's stock in a transaction on 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 in the company, valued at approximately $2,269,023.57. This trade represents a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.85% of the company's stock.

Amgen Stock Down 1.4%

Shares of Amgen stock opened at $366.29 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.01 and a debt-to-equity ratio of 5.65. The business's 50 day simple moving average is $347.69 and its 200-day simple moving average is $350.38. The stock has a market capitalization of $197.69 billion, a price-to-earnings ratio of 25.49, a PEG ratio of 3.71 and a beta of 0.41. Amgen Inc. has a twelve month low of $269.77 and a twelve month high of $391.29.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The medical research company reported $5.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.77 by $0.38. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The business had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.58 billion. The business's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.90 EPS. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Equities research analysts forecast that Amgen Inc. will post 22.31 earnings per share for the current year.

Amgen Profile

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.

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