Amgen Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Amgen (NASDAQ:AMGN) by a large investor, as observed in the unusual options activity. The overall sentiment of these big-money traders is split between 36% bullish and 63% bearish. The whales have been targeting a price range from $250.0 to $280.0 for Amgen over the last 3 months. HSBC downgraded its action to Buy with a price target of $320, while Truist Securities downgraded its action to Hold with a price target of $260.
September 15, 2023 | 4:48 pm
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NEGATIVE IMPACT
A large investor has taken a bearish stance on Amgen, with unusual options activity observed. The sentiment among big-money traders is more bearish than bullish. HSBC and Truist Securities have downgraded their actions on Amgen.
The bearish stance taken by a large investor, as indicated by the unusual options activity, suggests a negative outlook for Amgen. This is further supported by the downgrades from HSBC and Truist Securities. These factors are likely to exert downward pressure on Amgen's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100