Harbour Capital Advisors LLC Has $317,000 Stock Position in Amgen Inc. (NASDAQ:AMGN)

Harbour Capital Advisors LLC lifted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 5.2% in the first quarter, Holdings Channel.com reports. The institutional investor owned 1,146 shares of the medical research company’s stock after acquiring an additional 57 shares during the period. Harbour Capital Advisors LLC’s holdings in Amgen were worth $317,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of AMGN. BIP Wealth LLC grew its stake in shares of Amgen by 2.6% in the 4th quarter. BIP Wealth LLC now owns 1,249 shares of the medical research company’s stock worth $360,000 after buying an additional 32 shares during the last quarter. Southland Equity Partners LLC grew its stake in shares of Amgen by 2.3% in the 4th quarter. Southland Equity Partners LLC now owns 1,538 shares of the medical research company’s stock worth $443,000 after buying an additional 34 shares during the last quarter. Acropolis Investment Management LLC grew its stake in shares of Amgen by 3.5% in the 4th quarter. Acropolis Investment Management LLC now owns 999 shares of the medical research company’s stock worth $288,000 after buying an additional 34 shares during the last quarter. Opal Wealth Advisors LLC grew its stake in shares of Amgen by 1.9% in the 4th quarter. Opal Wealth Advisors LLC now owns 1,868 shares of the medical research company’s stock worth $538,000 after buying an additional 34 shares during the last quarter. Finally, Marino Stram & Associates LLC grew its stake in shares of Amgen by 0.7% in the 4th quarter. Marino Stram & Associates LLC now owns 4,626 shares of the medical research company’s stock worth $1,332,000 after buying an additional 34 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Ratings Changes

AMGN has been the topic of several recent research reports. Barclays upgraded Amgen from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $230.00 to $300.00 in a research note on Friday, May 3rd. Royal Bank of Canada increased their target price on Amgen from $328.00 to $332.00 and gave the company an “outperform” rating in a research note on Friday, June 14th. Mizuho increased their target price on Amgen from $223.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. Truist Financial reiterated a “buy” rating and set a $320.00 target price on shares of Amgen in a research note on Friday, April 12th. Finally, William Blair upgraded Amgen from a “market perform” rating to an “outperform” rating in a research note on Friday, May 3rd. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Amgen has a consensus rating of “Moderate Buy” and an average target price of $307.35.

Amgen Price Performance

Shares of Amgen stock opened at $312.45 on Friday. Amgen Inc. has a one year low of $218.44 and a one year high of $329.72. The stock’s fifty day moving average is $301.56 and its 200 day moving average is $292.10. The stock has a market cap of $167.61 billion, a P/E ratio of 44.64, a P/E/G ratio of 2.83 and a beta of 0.60. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42.

Amgen (NASDAQ:AMGN) last announced its earnings results on Thursday, May 2nd. The medical research company reported $3.96 EPS for the quarter, topping analysts’ consensus estimates of $3.76 by $0.20. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The company had revenue of $7.45 billion for the quarter, compared to analysts’ expectations of $7.45 billion. During the same period last year, the firm earned $3.98 EPS. Amgen’s revenue for the quarter was up 22.0% compared to the same quarter last year. Sell-side analysts anticipate that Amgen Inc. will post 19.47 earnings per share for the current year.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total value of $662,811.53. Following the completion of the sale, the senior vice president now owns 9,883 shares in the company, valued at approximately $3,094,268.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.69% of the stock is currently owned by company insiders.

Amgen Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.