New York State Teachers Retirement System Raises Stock Position in Amgen Inc. $AMGN

New York State Teachers Retirement System increased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 0.5% in the 1st quarter, HoldingsChannel reports. The fund owned 441,342 shares of the medical research company’s stock after acquiring an additional 2,332 shares during the period. New York State Teachers Retirement System’s holdings in Amgen were worth $155,286,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of AMGN. Optas LLC increased its position in Amgen by 23.9% during the 1st quarter. Optas LLC now owns 1,886 shares of the medical research company’s stock valued at $664,000 after buying an additional 364 shares in the last quarter. MOR Wealth Management LLC acquired a new stake in Amgen in the first quarter worth about $299,000. Y Intercept Hong Kong Ltd acquired a new stake in Amgen in the first quarter worth about $11,400,000. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in shares of Amgen by 59.9% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 166,082 shares of the medical research company’s stock worth $58,436,000 after acquiring an additional 62,190 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC grew its stake in shares of Amgen by 91.9% during the first quarter. Elevation Point Wealth Partners LLC now owns 21,443 shares of the medical research company’s stock worth $7,545,000 after acquiring an additional 10,271 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related 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 completion of the transaction, the senior vice president directly owned 7,009 shares in the company, valued at $2,269,023.57. The trade was a 15.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.85% of the stock is currently owned by corporate insiders.

Amgen Stock Up 3.5%

Amgen stock opened at $374.15 on Friday. The business’s 50-day moving average price is $341.87 and its 200 day moving average price is $347.74. The company has a quick ratio of 1.01, a current ratio of 1.26 and a debt-to-equity ratio of 5.65. The firm has a market cap 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 Inc. has a 52 week low of $269.77 and a 52 week high of $391.29.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Thursday, April 30th. The medical research company reported $5.15 EPS for the quarter, topping the consensus estimate of $4.77 by $0.38. The business had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.58 billion. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.90 EPS. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. As a group, sell-side analysts anticipate that Amgen Inc. will post 22.39 earnings per share for the current year.

Amgen News Roundup

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on AMGN shares. Jefferies Financial Group began coverage on shares of Amgen in a research note on Tuesday, March 10th. They issued a “hold” rating and a $350.00 target price for the company. UBS Group upped their price target 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. Freedom Capital raised shares of Amgen from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Morgan Stanley lifted their price objective on shares of Amgen from $332.00 to $340.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 9th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $350.00 price objective on shares of Amgen in a report on Wednesday, April 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $355.50.

About Amgen

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.