This Is What Whales Are Betting On Amgen

Financial giants have made a conspicuous bearish move on Amgen. Our analysis of options history for Amgen AMGN revealed 12 unusual trades.

Delving into the details, we found 16% of traders were bullish, while 83% showed bearish tendencies. Out of all the trades we spotted, 10 were puts, with a value of $960,809, and 2 were calls, valued at $62,281.

Projected Price Targets

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $125.0 and $292.5 for Amgen, spanning the last three months.

Volume & Open Interest Trends

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 $125.0 to $292.5 over the preceding 30 days.

Amgen Option Volume And Open Interest Over Last 30 Days

Largest Options Trades Observed:

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.

Where Is Amgen Standing Right Now?

• With a trading volume of 1,410,454, the price of AMGN is down by -0.68%, reaching $288.1.
• Current RSI values indicate that the stock is may be approaching oversold.
• Next earnings report is scheduled for 70 days from now.

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 $324.2.

• An analyst from Goldman Sachs has decided to maintain their Buy rating on Amgen, which currently sits at a price target of $350.
• Consistent in their evaluation, an analyst from RBC Capital keeps a Outperform rating on Amgen with a target price of $329.
• An analyst from Morgan Stanley has decided to maintain their Equal-Weight rating on Amgen, which currently sits at a price target of $278.
• Maintaining their stance, an analyst from UBS continues to hold a Neutral rating for Amgen, targeting a price of $314.
• An analyst from Oppenheimer has revised its rating downward to Outperform, adjusting the price target to $350.

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.