Amgen (AMGN)

• Market cap: $152B
• 1 day: -4.16%
• 5 days: -12.98%
• 1 month: -12.76%
• 3 months: -12.84%
• 6 months: -11.11%
• Year to date: -4.63%
• 1 year: 3.88%
• 5 years: 28.41%
• 10 years: 78.21%
• Sector: Healthcare
• Industry: Biological Products, Except Diagnostic Substances

About: Amgen is a leader in biotechnology-based human therapeutics. Flagship drugs include red blood cell boosters Epogen and Aranesp, immune system boosters Neupogen and Neulasta, and Enbrel and Otezla for inflammatory diseases. Amgen introduced its first cancer therapeutic, Vectibix, in 2006 and markets bone-strengthening drug Prolia/Xgeva (approved 2010) and Evenity (2019). The acquisition of Onyx bolstered the firm's therapeutic oncology portfolio with Kyprolis. Recent launches include Repatha (cholesterol-lowering), Aimovig (migraine), Lumakras (lung cancer), and Tezspire (asthma). The 2023 Horizon acquisition brings several rare-disease drugs, including thyroid eye disease drug Tepezza. Amgen also has a growing biosimilar portfolio.

Employees: 26,700

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

3% more call options, than puts

Call options by funds: $2.62B | Put options by funds: $2.54B

1% less funds holding

Funds holding: 2,732 [Q2] → 2,713 (-19) [Q3]

2% less capital invested

Capital invested by funds: $134B [Q2] → $131B (-$2.99B) [Q3]

3% less repeat investments, than reductions

Existing positions increased: 1,061 | Existing positions reduced: 1,091

3.62% less ownership

Funds ownership: 79.46% [Q2] → 75.84% (-3.62%) [Q3]

10% less first-time investments, than exits

New positions opened: 168 | Existing positions closed: 187

22% less funds holding in top 10

Funds holding in top 10: 87 [Q2] → 68 (-19) [Q3]

Research analyst outlook

11 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $215 24% downside
• Avg. target: $349 23% upside
• High target: $405 43% upside

11 analyst ratings

• positive: 6 55%
• neutral: 4 36%
• negative: 1 9%

Citigroup Geoff Meacham 42% 1-year accuracy 10 / 24 met price target	18% upside $335	Neutral Initiated	14 Nov 2024
Jefferies Michael Yee 40% 1-year accuracy 4 / 10 met price target	34% upside $380	Buy Maintained	12 Nov 2024
UBS Colin Bristow 25% 1-year accuracy 4 / 16 met price target	15% upside $326	Neutral Maintained	31 Oct 2024
Cantor Fitzgerald Olivia Brayer 60% 1-year accuracy 15 / 25 met price target	43% upside $405	Overweight Reiterated	22 Oct 2024
TD Cowen Yaron Weber 100% 1-year accuracy 2 / 2 met price target	35% upside $383	Buy Maintained	21 Oct 2024