After Today’s Bearish Options Activity, Is Amgen, Inc.’s Near-Term Analysis Positive?

 After Today's Bearish Options Activity, Is Amgen, Inc.'s Near Term Analysis Positive?

In today’s session Amgen, Inc. (AMGN) recorded an unusually high (768) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the October, 2016 put, expecting serious AMGN decrease. With 768 contracts traded and 15754 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: AMGN161021P00155000 closed last at: $0.15 or 44.4% down. About 397,509 shares traded hands. Amgen, Inc. (NASDAQ:AMGN) has risen 13.07% since March 16, 2016 and is uptrending. It has outperformed by 7.53% the S&P500.

Analysts await Amgen, Inc. (NASDAQ:AMGN) to report earnings on October, 26. They expect $2.79 EPS, up 2.57% or $0.07 from last year’s $2.72 per share. AMGN’s profit will be $2.09 billion for 14.55 P/E if the $2.79 EPS becomes a reality. After $2.84 actual EPS 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 16.33% above today’s ($162.43) stock price. Amgen Inc. has been the topic of 28 analyst reports since August 3, 2015 according to StockzIntelligence Inc. Deutsche Bank maintained it with “Buy” rating and $195 target price in Friday, July 31 report. Argus Research maintained Amgen, Inc. (NASDAQ:AMGN) rating on Monday, February 8. Argus Research has “Buy” rating and $185 price target. As per Friday, July 31, the company rating was maintained by RBC Capital Markets. The stock of Amgen, Inc. (NASDAQ:AMGN) has “Outperform” rating given on Wednesday, January 20 by Credit Suisse. As per Friday, December 18, the company rating was initiated by Atlantic Securities. The stock of Amgen, Inc. (NASDAQ:AMGN) has “Overweight” rating given on Saturday, August 29 by Piper Jaffray. The firm has “Overweight” rating by Morgan Stanley given on Tuesday, December 15. The firm has “Market Perform” rating by Bernstein given on Wednesday, June 29. Raymond James initiated the stock with “Market Perform” rating in Tuesday, September 1 report. The rating was initiated by Gabelli on Friday, August 26 with “Hold”.

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 2016 Q2. Its up 0.21, from 1.07 in 2016Q1. The ratio increased, 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.
Sumitomo Mitsui Asset Mngmt has invested 0.27% of its portfolio in Amgen, Inc. (NASDAQ:AMGN). Hillsdale Inv has 1,960 shares for 0.09% of their US portfolio. Bridgecreek Mngmt Limited Liability Company last reported 0.48% of its portfolio in the stock. Stearns Finance Service Gru has invested 0.19% of its portfolio in Amgen, Inc. (NASDAQ:AMGN). Brown Advisory accumulated 0.09% or 162,780 shares. Moreover, American Trust Advsrs Ltd Liability has 0.45% invested in Amgen, Inc. (NASDAQ:AMGN) for 2,865 shares. Rathbone Brothers Public Ltd Liability Com accumulated 1.22% or 145,695 shares. Great West Life Assurance Can accumulated 0.26% or 483,617 shares. Moreover, Wg Shaheen Associate Dba Whitney has 0.98% invested in Amgen, Inc. (NASDAQ:AMGN) for 15,885 shares. The New Jersey-based Strategy Asset Managers Ltd Limited Liability Company has invested 0.47% in Amgen, Inc. (NASDAQ:AMGN). Tiedemann Wealth Management Llc, a New York-based fund reported 8,000 shares. Morgan Dempsey Capital Mgmt Lc holds 0% or 18 shares in its portfolio. Armstrong Shaw Inc Ct has invested 2.66% of its portfolio in Amgen, Inc. (NASDAQ:AMGN). Livingston Group Asset Mngmt (Operating As Southport Cap Management) holds 525 shares or 0.04% of its portfolio. Sterling Strategies Lc accumulated 0.85% or 1,478 shares.

Insider Transactions: Since April 29, 2016, the stock had 0 buys, and 4 insider sales for $9.12 million net activity. Balachandran Madhavan sold $4.62M worth of Amgen, Inc. (NASDAQ:AMGN) on Tuesday, May 3. Such Annette Louise had sold 3,000 shares worth $523,758 on Monday, August 1. $520,684 worth of Amgen, Inc. (NASDAQ:AMGN) was sold by BALTIMORE DAVID on Friday, April 29. $3.46M worth of Amgen, Inc. (NASDAQ:AMGN) was sold by Harper Sean E on Friday, April 29.

Amgen Inc. is a biotechnology company. The company has a market cap of $121.69 billion. The Firm discovers, develops, makes and delivers various human therapeutics. It has a 16.62 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.

Another recent and important Amgen, Inc. (NASDAQ:AMGN) news was published by Investorplace.com which published an article titled: “How to Play a Down and Out Amgen, Inc. (AMGN) Stock” on October 12, 2016.

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