Panagora Asset Management Inc. Sells 169,051 Shares of Amgen Inc. $AMGN

Panagora Asset Management Inc. lessened its position in Amgen Inc. (NASDAQ:AMGN) by 39.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 257,963 shares of the medical research company’s stock after selling 169,051 shares during the period. Panagora Asset Management Inc.’s holdings in Amgen were worth $84,434,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of AMGN. Norges Bank bought a new stake in Amgen in the fourth quarter valued at approximately $2,164,162,000. Capital World Investors increased its stake in Amgen by 22.9% in the fourth quarter. Capital World Investors now owns 23,097,711 shares of the medical research company’s stock valued at $7,560,249,000 after purchasing an additional 4,302,237 shares in the last quarter. State Street Corp increased its stake in Amgen by 4.4% in the fourth quarter. State Street Corp now owns 30,591,403 shares of the medical research company’s stock valued at $10,012,872,000 after purchasing an additional 1,287,310 shares in the last quarter. Geode Capital Management LLC increased its stake in Amgen by 7.8% in the fourth quarter. Geode Capital Management LLC now owns 14,303,294 shares of the medical research company’s stock valued at $4,665,822,000 after purchasing an additional 1,035,779 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Amgen by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 54,838,826 shares of the medical research company’s stock valued at $17,949,296,000 after purchasing an additional 961,975 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

AMGN has been the subject of several recent analyst reports. UBS Group upped their target price on shares of Amgen from $390.00 to $400.00 and gave the company a “buy” rating in a research note on Monday, April 13th. The Goldman Sachs Group set a $389.00 price target on shares of Amgen in a report on Friday, June 5th. Erste Group Bank reiterated a “hold” rating on shares of Amgen in a report on Tuesday, May 5th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $350.00 price target on shares of Amgen in a report on Wednesday, April 8th. Finally, Guggenheim reduced their price target on shares of Amgen from $351.00 to $340.00 and set a “neutral” rating for the company in a report on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $354.12.

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 1,237 shares of the firm’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 completion of the transaction, the senior vice president owned 7,009 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.85% of the company’s stock.

Key Stories Impacting Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen said its phase 3 ABP 938 eye-disease study is advancing, with the drug aimed at challenging Regeneron’s Eylea HD in a major retina market. That keeps Amgen’s pipeline in focus as a potential future growth driver. Article Title
• Positive Sentiment: Amgen also highlighted its MARITIME-SWITCH phase 3 obesity trial, which is designed to capture GLP-1 switchers. Any success in obesity treatment could open another large market and improve long-term revenue expectations. Article Title
• Positive Sentiment: Some coverage pointed to Amgen as a value stock with supportive new data from the VESALIUS-CV cardiovascular study for Repatha, reinforcing confidence in the company’s broader portfolio. Article Title
• Neutral Sentiment: Amgen and outside analysts published bullish commentary on the stock’s valuation and earnings profile, but these were mostly opinion pieces rather than new business developments. Article Title
• Negative Sentiment: Investor sentiment is being pressured by reports that Amgen’s Tavneos faces a proposed FDA withdrawal, with the company seeking a hearing and commissioning an independent review to defend the drug’s data. Regulatory uncertainty around a $500 million product is a meaningful risk for the stock. Article Title
• Negative Sentiment: Reuters also reported that Amgen hired a research firm to reassess Tavneos data after FDA concerns, underscoring the regulatory overhang and near-term uncertainty for the drug. Article Title

Amgen Price Performance

Amgen stock opened at $355.20 on Monday. The company has a market cap of $191.70 billion, a P/E ratio of 24.72, a price-to-earnings-growth ratio of 3.56 and a beta of 0.42. Amgen Inc. has a 1-year low of $267.83 and a 1-year high of $391.29. The company has a fifty day simple moving average of $340.97 and a 200 day simple moving average of $345.80. The company has a current ratio of 1.26, a quick ratio of 1.01 and a debt-to-equity ratio of 5.65.

Amgen (NASDAQ:AMGN) last released its earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share for the quarter, beating 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 net margin of 20.96% and a return on equity of 137.41%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned $4.90 earnings per share. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Research analysts anticipate that Amgen Inc. will post 22.38 earnings per share for the current fiscal year.

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.