Amgen's Options: A Look at What the Big Money is Thinking

Investors with a lot of money to spend have taken a bullish stance on Amgen AMGN.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with AMGN, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 10 uncommon options trades for Amgen.

This isn't normal.

The overall sentiment of these big-money traders is split between 40% bullish and 40%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $188,043, and 6 are calls, for a total amount of $254,910.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $250.0 to $305.0 for Amgen over the recent three months.

Insights into Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Amgen's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Amgen's substantial trades, within a strike price spectrum from $250.0 to $305.0 over the preceding 30 days.

Amgen 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

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.

Having examined the options trading patterns of Amgen, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Where Is Amgen Standing Right Now?

• With a trading volume of 1,066,147, the price of AMGN is down by -0.58%, reaching $275.77.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 0 days from now.

What The Experts Say On Amgen

Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $323.25.

• An analyst from UBS persists with their Neutral rating on Amgen, maintaining a target price of $284.
• In a cautious move, an analyst from RBC Capital downgraded its rating to Outperform, setting a price target of $329.
• Maintaining their stance, an analyst from TD Cowen continues to hold a Buy rating for Amgen, targeting a price of $360.
• An analyst from Truist Securities downgraded its action to Buy with a price target of $320.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Amgen with Benzinga Pro for real-time alerts.