Mirador Capital Partners LP Has $590,000 Position in Amgen Inc. (NASDAQ:AMGN)

Mirador Capital Partners LP boosted its stake in Amgen Inc. (NASDAQ:AMGN) by 39.3% in the first quarter, HoldingsChannel reports. The firm owned 2,076 shares of the medical research company’s stock after buying an additional 586 shares during the period. Mirador Capital Partners LP’s holdings in Amgen were worth $590,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMGN. Norges Bank acquired a new position in Amgen during the fourth quarter worth $1,556,912,000. International Assets Investment Management LLC acquired a new stake in shares of Amgen in the 4th quarter worth about $4,589,900,000. Royal Bank of Canada lifted its position in Amgen by 14.8% in the 4th quarter. Royal Bank of Canada now owns 5,831,624 shares of the medical research company’s stock valued at $1,679,625,000 after acquiring an additional 751,947 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Amgen by 486.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 899,232 shares of the medical research company’s stock valued at $258,997,000 after purchasing an additional 745,929 shares during the last quarter. Finally, abrdn plc raised its stake in shares of Amgen by 150.4% in the fourth quarter. abrdn plc now owns 1,043,609 shares of the medical research company’s stock worth $300,580,000 after purchasing an additional 626,810 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AMGN. UBS Group lifted their target price on Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. BMO Capital Markets lifted their price objective on shares of Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Argus increased their target price on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, June 27th. TD Cowen cut their price target on shares of Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Finally, Royal Bank of Canada increased their price objective on shares of Amgen from $328.00 to $332.00 and gave the company an “outperform” rating in a research note on Friday, June 14th. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Amgen currently has a consensus rating of “Moderate Buy” and a consensus target price of $307.35.

Amgen Stock Performance

NASDAQ AMGN opened at $311.01 on Tuesday. The company’s 50 day moving average is $301.56 and its 200-day moving average is $292.30. The firm has a market cap of $166.84 billion, a P/E ratio of 44.43, a price-to-earnings-growth ratio of 2.82 and a beta of 0.58. Amgen Inc. has a 12-month low of $218.44 and a 12-month high of $329.72. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96.

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

Insider Buying and Selling

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

About Amgen

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.