Amgen Options Trading: A Deep Dive into Market Sentiment
Portfolio Pulse from Benzinga Insights
Benzinga's options scanner revealed significant bullish options activity for Amgen (NASDAQ:AMGN), with 71% of the heavyweight investors' sentiment leaning bullish. The options activity suggests a price target range between $250 and $360. Amgen is a biotech leader with a diverse portfolio, including recent acquisitions like Horizon. The stock is slightly down with a potential overbought RSI, and earnings are expected in 7 days. One analyst from UBS maintains a Neutral rating with a target price of $314.
January 30, 2024 | 8:00 pm
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Significant bullish options activity suggests potential upside for Amgen's stock, with a price target range between $250 and $360. The company's diverse portfolio and upcoming earnings could influence stock movement.
The bullish options activity indicates that investors are expecting a positive movement in Amgen's stock price. The high volume of calls compared to puts, along with the price target range, supports this outlook. However, the RSI suggests the stock may be approaching overbought territory, which could limit the upside. The upcoming earnings release adds to the potential volatility and impact on the stock price.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100