Amgen (AMGN) Offering Possible 36.24% Return Over the Next 21 Calendar Days

Amgen's most recent trend suggests a bullish bias. One trading opportunity on Amgen is a Bull Put Spread using a strike $205.00 short put and a strike $200.00 long put offers a potential 36.24% return on risk over the next 21 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $205.00 by expiration. The full premium credit of $1.33 would be kept by the premium seller. The risk of $3.67 would be incurred if the stock dropped below the $200.00 long put strike price.

The 5-day moving average is moving up which suggests that the short-term momentum for Amgen is bullish and the probability of a rise in share price is higher if the stock starts trending.

The 20-day moving average is moving up which suggests that the medium-term momentum for Amgen is bullish.

The RSI indicator is at 71.36 level which suggests that the stock is neither overbought nor oversold at this time.

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LATEST NEWS for Amgen

What Investors Need to Know About the Celgene, Amgen & Bristol-Myers Deals
Wed, 28 Aug 2019 22:55:10 +0000
On Monday, Celgene (CELG) announced a sale of its psoriasis drug Otezla for $13.4 billion to Amgen (AMGN). This deal will be all cash and is expected to clear before the end of the year. Celgene's stock climbed 3.2% the day of the announcement and has risen another 0.5% since then.

U.S. judge rules for Regeneron, Sanofi in Amgen cholesterol drug patent fight
Wed, 28 Aug 2019 20:18:05 +0000
The ruling from U.S. District Judge Richard Andrews in Wilmington, Delaware was the latest reversal of fortune in a long-running lawsuit in which Amgen is seeking to stop French drugmaker Sanofi and U.S. biotech Regeneron from selling their drug Praluent. Repatha and Praluent won U.S. approval about two weeks apart in July of 2016.

UPDATE 3-U.S. judge rules for Regeneron, Sanofi in Amgen cholesterol drug patent fight
Wed, 28 Aug 2019 19:41:38 +0000
A U.S. judge on Wednesday set aside a jury verdict that found Amgen Inc patents on its cholesterol drug Repatha were valid, handing a victory to Regeneron Pharmaceuticals Inc and Sanofi SA, which sells a rival drug. The ruling from U.S. District Judge Richard Andrews in Wilmington, Delaware was the latest reversal of fortune in a long-running lawsuit in which Amgen is seeking to stop French drugmaker Sanofi and U.S. biotech Regeneron from selling their drug Praluent.

3 Top Biotech Stocks to Buy Right Now
Wed, 28 Aug 2019 17:31:00 +0000
Patent cliffs and pipeline risks are among the reasons these biologic drug specialists are attractively priced today.

Amgen Faces Trouble in the Anti-Cholesterol-Drug Battle, Analyst Says
Wed, 28 Aug 2019 14:43:00 +0000
A newer technology that uses small-interfering RNA to the same effect might serve a major blow to the anti-cholesterol antibodies, including Amgen ’s Repatha.

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