Jonathan P. Graham, Executive Vice President and General Counsel at Amgen Inc . (NASDAQ:AMGN), a prominent biotechnology company with a market capitalization of $158 billion and "GOOD" financial health according to InvestingPro, recently executed significant stock transactions, according to a recent SEC filing. On February 7, Graham sold 25,045 shares of Amgen common stock at an average price of $293.12, generating approximately $7.34 million.
In a related transaction, Graham exercised stock options to acquire the same number of shares at $156.35 per share, which were set to expire on May 3, 2026. Following these transactions, Graham holds 28,987 shares of Amgen stock.
The sales and acquisitions were conducted as part of Graham's ongoing management of his equity holdings in the company.
In other recent news, a series of analyst adjustments and company developments have been reported for the biotechnology firm, Amgen. Piper Sandler has raised Amgen's stock price target to $329, citing potential growth in revenue from the use of Tezspire beyond its current application for severe asthma. The investment firm maintains an Overweight rating on the stock.
Meanwhile, Erste Group upgraded Amgen's stock rating from Hold to Buy, acknowledging the company's strong financial performance and higher operating margin compared to the sector average. The firm also highlighted Amgen's attractive valuation and high dividend yield.
In contrast, RBC Capital Markets revised its price target for Amgen, reducing it slightly from $324 to $320, while maintaining an Outperform rating on the stock. This adjustment followed Amgen's recent financial report, which showcased robust earnings for the fourth quarter of 2024.
Cantor Fitzgerald also adjusted its outlook on Amgen shares, reducing the price target from $405.00 to $340.00 due to a recent clinical hold placed on Amgen's AMG 513. Despite this, the firm maintained its Overweight rating on the company's stock.
Lastly, Piper Sandler reiterated its Overweight rating on Amgen shares, maintaining a price target of $310.00, expressing confidence in the company's ability to maintain stability in its revenue and EBITDA. These recent developments provide investors with an updated perspective on Amgen's financial prospects.
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