Y Intercept Hong Kong Ltd Takes $11.40 Million Position in Amgen Inc. $AMGN

Key Points

• Y Intercept Hong Kong Ltd opened a new stake in Amgen during the first quarter, buying 32,401 shares worth about $11.4 million.
• Amgen’s latest earnings beat expectations, with $5.15 EPS and $8.62 billion in revenue, while revenue grew 5.8% year over year.
• Analysts remain mixed overall: the consensus rating is Hold with an average price target of $355.50, even as some firms raised targets or upgraded the stock.

Y Intercept Hong Kong Ltd bought a new position in Amgen Inc. (NASDAQ:AMGN - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 32,401 shares of the medical research company's stock, valued at approximately $11,400,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dogwood Wealth Management LLC raised its holdings in shares of Amgen by 275.0% in the 4th quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company's stock worth $25,000 after purchasing an additional 55 shares during the period. Anfield Capital Management LLC grew its holdings in shares of Amgen by 1,000.0% during the 4th quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company's stock worth $25,000 after purchasing an additional 70 shares during the period. Board of the Pension Protection Fund acquired a new stake in Amgen during the 4th quarter worth approximately $26,000. Tower View Wealth Management LLC increased its position in Amgen by 331.6% during the 1st quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company's stock worth $29,000 after purchasing an additional 63 shares in the last quarter. Finally, Manning & Napier Advisors LLC raised its holdings in Amgen by 49.2% in the fourth quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company's stock valued at $32,000 after buying an additional 32 shares during the period. Institutional investors and hedge funds own 76.50% of the company's stock.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,237 shares of the business's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $323.73, for a total value of $400,454.01. Following the transaction, the senior vice president owned 7,009 shares in the company, valued at $2,269,023.57. The trade was a 15.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.85% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Daiwa Securities Group reduced their price target on shares of Amgen from $410.00 to $390.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 13th. Wells Fargo & Company increased their price objective on shares of Amgen from $375.00 to $390.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 19th. Freedom Capital raised shares of Amgen from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 7th. Mizuho lifted their target price on shares of Amgen from $295.00 to $303.00 and gave the company a "neutral" rating in a report on Tuesday, June 16th. Finally, Piper Sandler reaffirmed an "overweight" rating on shares of Amgen in a research report on Friday, June 12th. Two equities research 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 company. According to data from MarketBeat.com, Amgen currently has a consensus rating of "Hold" and an average price target of $355.50.

Amgen Stock Up 3.5%

Shares of NASDAQ:AMGN opened at $374.15 on Friday. 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 52-week low of $269.77 and a 52-week high of $391.29. The company has a 50 day moving average of $341.87 and a two-hundred day moving average of $347.74. The company has a market capitalization of $201.93 billion, a price-to-earnings ratio of 26.04, a price-to-earnings-growth ratio of 3.56 and a beta of 0.41.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its earnings results on Thursday, April 30th. The medical research company reported $5.15 EPS for the quarter, topping analysts' consensus estimates of $4.77 by $0.38. The business had revenue of $8.62 billion for the quarter, compared to analysts' expectations of $8.58 billion. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The business's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $4.90 earnings per share. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. As a group, analysts forecast that Amgen Inc. will post 22.39 earnings per share for the current fiscal year.

Key Amgen News

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: A federal judge blocked Colorado’s attempt to cap the price of Amgen’s Enbrel, removing a potentially precedent-setting state-level pricing threat for one of Amgen’s most important legacy drugs. Article: Judge blocks Colorado's first-of-its-kind price cap on Amgen's Enbrel
• Positive Sentiment: Amgen continues to advance its pipeline, with updates on Rocatinlimab in asthma, evolocumab bioavailability, and AMG 133 in obesity, reinforcing the company’s long-term growth story. Article: Amgen’s Rocatinlimab Asthma Trial Reaches Phase 2 Finish Line Article: Amgen Refines Its PCSK9 Franchise with New Evolocumab Bioavailability Study Article: Amgen’s AMG 133 Trial Adds a New Data Point in the Obesity Drug Race
• Positive Sentiment: Analysts at Mizuho highlighted Amgen’s pipeline potential, especially MariTide and olpasiran, and raised their price target, signaling continued Street confidence in the company’s future growth prospects. Article: Mizuho Highlights Amgen (AMGN) Pipeline Potential With MariTide and Olpasiran
• Neutral Sentiment: Roche reported positive late-stage lung cancer data for divarasib versus drugs sold by Amgen and Bristol Myers, which adds competitive pressure in the oncology market but does not change Amgen’s fundamentals by itself. Article: Roche KRAS drug succeeds in head-to-head lung cancer study
• Negative Sentiment: A medical journal retracted a pivotal Tavneos paper, which could add to regulatory scrutiny around the drug and weigh on sentiment toward Amgen’s portfolio. Article: Medical journal retracts Tavneos pivotal paper amid wider regulatory clampdown

Amgen Company 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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