Amgen Target of Unusually High Options Trading (AMGN)

Amgen, Inc. (NASDAQ:AMGN) was the target of some unusual options trading on Friday. Investors acquired 15,362 put options on the stock. This represents an increase of approximately 229% compared to the average daily volume of 4,673 put options.

Amgen (AMGN) opened at 159.53 on Wednesday. The company’s 50-day moving average price is $159.90 and its 200 day moving average price is $160.09. The firm has a market capitalization of $117.32 billion, a price-to-earnings ratio of 15.15 and a beta of 1.15. Amgen has a 52-week low of $133.64 and a 52-week high of $184.21.

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, April 26th. The medical research company reported $3.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.00 by $0.15. The firm had revenue of $5.46 billion for the quarter, compared to analyst estimates of $5.60 billion. Amgen had a return on equity of 29.42% and a net margin of 33.59%. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.90 earnings per share. Equities analysts predict that Amgen will post $12.45 earnings per share for the current fiscal year.

In other news, SVP Cynthia M. Patton sold 2,922 shares of the company’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $154.40, for a total value of $451,156.80. Following the completion of the sale, the senior vice president now owns 24,214 shares in the company, valued at $3,738,641.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.20% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Jackson Grant Investment Advisers Inc. raised its position in Amgen by 0.6% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 636 shares of the medical research company’s stock valued at $104,000 after buying an additional 4 shares in the last quarter. Parkside Financial Bank & Trust raised its position in Amgen by 0.5% in the third quarter. Parkside Financial Bank & Trust now owns 1,470 shares of the medical research company’s stock valued at $245,000 after buying an additional 7 shares in the last quarter. Altavista Wealth Management Inc. raised its position in Amgen by 0.3% in the fourth quarter. Altavista Wealth Management Inc. now owns 3,985 shares of the medical research company’s stock valued at $583,000 after buying an additional 10 shares in the last quarter. RKL Wealth Management LLC raised its position in Amgen by 0.9% in the first quarter. RKL Wealth Management LLC now owns 1,537 shares of the medical research company’s stock valued at $252,000 after buying an additional 13 shares in the last quarter. Finally, First Command Financial Services Inc. raised its position in Amgen by 1.1% in the first quarter. First Command Financial Services Inc. now owns 1,547 shares of the medical research company’s stock valued at $254,000 after buying an additional 17 shares in the last quarter. Hedge funds and other institutional investors own 79.04% of the company’s stock.

Several analysts have recently weighed in on AMGN shares. Jefferies Group LLC lowered Amgen from a “buy” rating to a “hold” rating and cut their price objective for the company from $194.00 to $180.00 in a report on Wednesday, April 5th. Vetr upgraded Amgen from a “buy” rating to a “strong-buy” rating and set a $184.82 price objective for the company in a report on Monday, March 27th. Credit Suisse Group AG restated a “hold” rating and issued a $178.00 price objective on shares of Amgen in a report on Tuesday, April 4th. Cowen and Company restated an “outperform” rating and issued a $209.00 price objective on shares of Amgen in a report on Wednesday, April 19th. Finally, Mizuho set a $195.00 price objective on Amgen and gave the company a “buy” rating in a report on Thursday, March 16th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Amgen currently has a consensus rating of “Buy” and an average target price of $186.89.

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Amgen Company Profile

Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. Its 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 KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).

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