Could Amgen, Inc. See a Reversal After Today’s Strong Options Activity?

 Could Amgen, Inc. See a Reversal After Today's Strong Options Activity?

In today’s session Amgen, Inc. (AMGN) recorded an unusually high (443) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the December, 2016 put, expecting serious AMGN decrease. With 443 contracts traded and 2114 open interest for the Dec, 16 contract, it seems this is a quite bearish bet. The option with symbol: AMGN161216P00145000 closed last at: $1.4 or 1.4% down. About 467,332 shares traded hands. Amgen, Inc. (NASDAQ:AMGN) has risen 14.33% since March 4, 2016 and is uptrending. It has outperformed by 6.29% the S&P500.

Analysts await Amgen, Inc. (NASDAQ:AMGN) to report earnings on October, 26. They expect $2.79 earnings per share, up 2.57% or $0.07 from last year’s $2.72 per share. AMGN’s profit will be $2.08 billion for 14.99 P/E if the $2.79 EPS becomes a reality. After $2.84 actual earnings per share reported by Amgen, Inc. for the previous quarter, Wall Street now forecasts -1.76% negative EPS growth.

Amgen, Inc. (NASDAQ:AMGN) Ratings Coverage

Out of 16 analysts covering Amgen Inc. (NASDAQ:AMGN), 9 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 56% are positive. $218 is the highest target while $160 is the lowest. The $188.95 average target is 12.95% above today’s ($167.28) stock price. Amgen Inc. has been the topic of 28 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The stock of Amgen, Inc. (NASDAQ:AMGN) has “Buy” rating given on Monday, September 7 by UBS. Raymond James initiated Amgen, Inc. (NASDAQ:AMGN) on Tuesday, September 1 with “Market Perform” rating. Atlantic Securities initiated Amgen, Inc. (NASDAQ:AMGN) on Friday, December 18 with “Overweight” rating. The stock of Amgen, Inc. (NASDAQ:AMGN) earned “Hold” rating by Gabelli on Friday, August 26. The company was maintained on Thursday, October 29 by UBS. The firm has “Overweight” rating by Piper Jaffray given on Saturday, August 29. The firm earned “Buy” rating on Monday, February 8 by Argus Research. The company was upgraded on Tuesday, December 15 by Morgan Stanley. Credit Suisse initiated Amgen, Inc. (NASDAQ:AMGN) on Wednesday, January 20 with “Outperform” rating. The firm earned “Neutral” rating on Wednesday, September 28 by Citigroup.

According to Zacks Investment Research, “Amgen Inc. discovers, develops and delivers innovative human therapeutics. A biotechnology pioneer, Amgen was one of the first companies to realize the new science’s promise by bringing safe and effective medicines from lab, to manufacturing plant, to patient. Amgen therapeutics have changed the practice of medicine, helping millions of people around the world in the fight against cancer, kidney disease, rheumatoid arthritis, and other serious illnesses. With a deep and broad pipeline of potential new medicines, Amgen remains committed to advancing science to dramatically improve people’s lives.”

Insitutional Activity: The institutional sentiment increased to 1.28 in Q2 2016. Its up 0.21, from 1.07 in 2016Q1. The ratio improved, as 56 funds sold all Amgen, Inc. shares owned while 422 reduced positions. 77 funds bought stakes while 533 increased positions. They now own 577.82 million shares or 7.76% less from 626.39 million shares in 2016Q1.
Calamos Advsrs accumulated 95,387 shares or 0.1% of the stock. Ubs Asset Americas has 3.93 million shares for 0.68% of their US portfolio. Biondo Inv Advsrs Limited Liability Com accumulated 6,180 shares or 0.34% of the stock. Toth Advisory Corporation last reported 7,244 shares in the company. Rafferty Asset Limited Liability Co has 0.04% invested in the company for 3,929 shares. Moreover, Janney Cap Mgmt Ltd Llc has 0.01% invested in Amgen, Inc. (NASDAQ:AMGN) for 1,664 shares. The Alabama-based Wealthtrust has invested 0.16% in Amgen, Inc. (NASDAQ:AMGN). Federated Investors Pa holds 470,710 shares or 0.21% of its portfolio. Hussman Strategic Advsrs Inc accumulated 0.02% or 900 shares. Lodestar Inv Counsel Limited Liability Com Il has invested 2% of its portfolio in Amgen, Inc. (NASDAQ:AMGN). Brave Asset last reported 1,651 shares in the company. National Bank Of Hawaii reported 18,400 shares or 0.3% of all its holdings. Gerstein Fisher, a New York-based fund reported 10,920 shares. Trexquant Invest Ltd Partnership accumulated 0.21% or 10,300 shares. Nomura Hldgs reported 30,015 shares or 0.02% of all its holdings.

Insider Transactions: Since April 29, 2016, the stock had 0 insider buys, and 4 sales for $9.12 million net activity. 3,000 Amgen, Inc. (NASDAQ:AMGN) shares with value of $523,758 were sold by Such Annette Louise. The insider BALTIMORE DAVID sold 3,312 shares worth $520,684. Another trade for 30,000 shares valued at $4.62M was sold by Balachandran Madhavan. Harper Sean E sold $3.46M worth of Amgen, Inc. (NASDAQ:AMGN) on Friday, April 29.

Amgen Inc. is a biotechnology company. The company has a market cap of $124.93 billion. The Firm discovers, develops, makes and delivers various human therapeutics. It has a 17.12 P/E ratio. The Company’s business segment is human therapeutics.

AMGN Company Profile

Amgen Inc., incorporated on October 31, 1986, is a biotechnology company. The Firm discovers, develops, makes and delivers various human therapeutics. The Company’s business segment is human therapeutics. The Company’s marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as Vectibix (panitumumab), Nplate (romiplostim) and Corlanor (ivabradine). The Firm focuses its research and development on human therapeutics for the treatment of serious illness in the areas of oncology/hematology, cardiovascular disease, inflammation, bone health, nephrology and neuroscience.

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