Behind the Scenes of Amgen's Latest Options Trends

Financial giants have made a conspicuous bearish move on Amgen. Our analysis of options history for Amgen AMGN revealed 13 unusual trades.

Delving into the details, we found 46% of traders were bullish, while 53% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $137,152, and 10 were calls, valued at $298,220.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $290.0 to $305.0 for Amgen over the last 3 months.

Analyzing Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Amgen's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Amgen's significant trades, within a strike price range of $290.0 to $305.0, over the past month.

Amgen Option Volume And Open Interest Over Last 30 Days

Significant Options Trades Detected:

About Amgen

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.

Following our analysis of the options activities associated with Amgen, we pivot to a closer look at the company's own performance.

Present Market Standing of Amgen

• With a volume of 694,355, the price of AMGN is down -0.38% at $290.01.
• RSI indicators hint that the underlying stock may be approaching oversold.
• Next earnings are expected to be released in 73 days.

What Analysts Are Saying About Amgen

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $338.6.

• An analyst from Goldman Sachs persists with their Buy rating on Amgen, maintaining a target price of $350.
• Maintaining their stance, an analyst from Goldman Sachs continues to hold a Buy rating for Amgen, targeting a price of $350.
• An analyst from RBC Capital persists with their Outperform rating on Amgen, maintaining a target price of $329.
• An analyst from UBS has decided to maintain their Neutral rating on Amgen, which currently sits at a price target of $314.
• Reflecting concerns, an analyst from Oppenheimer lowers its rating to Outperform with a new price target of $350.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Amgen, Benzinga Pro gives you real-time options trades alerts.