Whales with a lot of money to spend have taken a noticeably bearish stance on Amgen ( AMGN ).

Looking at options history for Amgen ( AMGN ) we detected 10 trades.

If we consider the specifics of each trade, it is accurate to state that 40% of the investors opened trades with bullish expectations and 50% with bearish.

From the overall spotted trades, 2 are puts, for a total amount of $87,820 and 8, calls, for a total amount of $345,235.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $270.0 to $345.0 for Amgen ( AMGN ) over the recent three months.

Insights into Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Amgen ( AMGN ) options trades today is 240.4 with a total volume of 1,132.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Amgen's ( AMGN ) big money trades within a strike price range of $270.0 to $345.0 over the last 30 days.

Amgen Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

About Amgen

Amgen ( AMGN ) 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 ( AMGN ) 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 ( AMGN ) also has a growing biosimilar portfolio.

After a thorough review of the options trading surrounding Amgen ( AMGN ), we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Amgen's Current Market Status

Currently trading with a volume of 869,379, the AMGN's price is down by -0.34%, now at $311.39.

RSI readings suggest the stock is currently may be approaching overbought.

Anticipated earnings release is in 31 days.

Professional Analyst Ratings for Amgen

Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $336.0.

An analyst from RBC Capital has decided to maintain their Outperform rating on Amgen ( AMGN ), which currently sits at a price target of $332.

An analyst from Argus Research persists with their Buy rating on Amgen ( AMGN ), maintaining a target price of $340.

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