Nancy A. Grygiel, Senior Vice President and Chief Compliance Officer at Amgen Inc . (NASDAQ:AMGN), recently sold shares of the company's common stock. According to a filing with the Securities and Exchange Commission, Grygiel sold 1,589 shares on February 5 at an average price of $304.47 per share, totaling approximately $483,807. The transaction comes as Amgen, with a market capitalization of $160 billion, has seen its stock rise 14.25% year-to-date. InvestingPro data shows the company maintains a solid 3.2% dividend yield. Following this transaction, Grygiel holds 7,210 shares directly, which includes 114 Dividend Equivalents granted under Amgen's Equity Plan. Additionally, Grygiel has indirect ownership of shares through Amgen's 401(k) Plan. InvestingPro subscribers can access 12 additional key insights about Amgen, including detailed analysis of its financial health, valuation metrics, and growth prospects. The company's comprehensive Pro Research Report offers deep-dive analysis essential for understanding this prominent biotechnology player's market position.
In other recent news, Amgen has been the subject of several analyst updates. Erste Group upgraded Amgen's stock rating to Buy, citing strong margins and an upward trajectory in sales and operating income. Meanwhile, RBC Capital Markets adjusted its price target for Amgen shares from $324 to $320, maintaining an Outperform rating. The firm highlighted Amgen's robust Q4 performance and solid positioning for growth.
Cantor Fitzgerald also revised its outlook on Amgen, reducing the price target from $405 to $340, but maintaining an Overweight rating. This followed a clinical hold placed on Amgen's AMG 513. Piper Sandler reiterated its Overweight rating on Amgen shares, maintaining a price target of $310, expressing confidence in Amgen's strategic direction and the anticipated availability of MariTide.
In addition, Amgen has received FDA approval for LUMAKRAS® in combination with Vectibix® to treat adult patients with KRAS G12C-mutated metastatic colorectal cancer. This approval is based on the Phase 3 CodeBreaK 300 study, which demonstrated the combination's efficacy in doubling progression-free survival compared to standard treatments. These are among the recent developments concerning Amgen.
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