This Is What Whales Are Betting On Amgen
Portfolio Pulse from Benzinga Insights
Financial giants have shown a bearish stance on Amgen (NASDAQ:AMGN) through options trading, with 83% of trades being bearish. The trading activity focuses on a price range between $125.0 and $292.5. Amgen, a leader in biotechnology-based human therapeutics, has seen its stock price slightly decrease by -0.68%, currently at $288.1. Analysts have mixed ratings on AMGN, with target prices ranging from $278 to $350. The next earnings report is expected in 70 days.
February 15, 2024 | 6:00 pm
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Amgen has seen a bearish trend in options trading, with a significant focus on puts. Despite this, analyst ratings vary, with target prices suggesting potential upside.
The bearish options trading indicates short-term investor skepticism. However, the range of analyst target prices and the company's strong product portfolio suggest underlying value. The mixed signals could lead to short-term volatility but also potential upside, depending on upcoming earnings and market sentiment.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100