5 Best Performing Dow Stocks in 2022

4. Amgen Inc. (NASDAQ:AMGN)

YTD Total Return as of December 25, 2022: 21.01%

Number of Hedge Fund Holders: 53

Amgen Inc. (NASDAQ:AMGN) is a multinational biopharmaceutical company and is one of the largest biotechnology companies in the world. Amgen Inc. (NASDAQ:AMGN)’s business is organized into three main segments: Oncology, Inflammation & Nephrology, and Neuroscience. The Oncology segment includes the development and sales of cancer therapies. The Inflammation & Nephrology segment includes the development and sales of therapies for inflammatory and kidney diseases. The Neuroscience segment includes the development and sales of therapies for neurological conditions.

On December 12, 2022, Christopher Raymond, an analyst at Piper Sandler, increased his price target on Amgen Inc. (NASDAQ:AMGN) to $299 while keeping an Overweight rating on the stock after the company reached a deal to acquire Horizon Therapeutics Public Limited Company (NASDAQ:HZNP). The analyst believes that this deal will result in substantial profit growth starting in 2024.

As per Insider Monkey’s database, 53 hedge funds had stakes in Amgen Inc. (NASDAQ:AMGN) at the end of the third quarter. Two Sigma Advisors remained the leading stakeholder in the company at the end of Q3 2022.