Amgen Offering Possible 5.49% Return Over the Next 30 Calendar Days

Amgen's most recent trend suggests a bullish bias. One trading opportunity on Amgen is a Bull Put Spread using a strike $105.00 short put and a strike $97.50 long put offers a potential 5.49% return on risk over the next 30 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $105.00 by expiration. The full premium credit of $0.39 would be kept by the premium seller. The risk of $7.11 would be incurred if the stock dropped below the $97.50 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 40.82 level which suggests that the stock is neither overbought nor oversold at this time.

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LATEST NEWS for Amgen

9:15 am Amgen announces positive top-line results from 52-week phase 3 DESCARTES study of Evolocumab in patients with high cholesterol; Study meets primary endpoint of ldl cholesterol reduction
Thu, 19 Dec 2013 23:27:33 GMT
Briefing.com – 9:15 am Amgen announces positive top-line results from 52-week phase 3 DESCARTES study of Evolocumab in patients with high cholesterol; Study meets primary endpoint of ldl cholesterol reduction

Bristol-Myers exiting joint venture with AstraZeneca
Thu, 19 Dec 2013 18:18:00 GMT
CNBC – CNBC's Morgan Brennan reports a Bristol-Myers spokeswoman says the company is looking for new opportunities in immuno-oncology.

Amgen Announces Positive Top-Line Results From 52-Week Phase 3 DESCARTES Study Of Evolocumab (AMG 145) In Patients With High Cholesterol
Thu, 19 Dec 2013 15:57:14 GMT
noodls – THOUSAND OAKS, Calif., Dec. 19, 2013 /PRNewswire/ — Amgen (NASDAQ:AMGN) today announced that the Phase 3 DESCARTES (Durable Effect of PCSK9 Antibody CompARed wiTh PlacEbo Study) study evaluating the long-term …

In Insider Trading, Icahn Boosts Stake in Nuance, and Frost Buys More Shares of Opko
Thu, 19 Dec 2013 15:30:00 GMT
Minyanville – Plus, insider purchases at Tetralogic Pharmaceuticals and Aircastle.

Amgen cholesterol drug succeeds in late-stage trial
Thu, 19 Dec 2013 15:08:40 GMT
Reuters – Amgen Inc said its closely watched experimental cholesterol drug succeeded in reducing the level of bad cholesterol in the blood, compared to a placebo, in a late-stage trial. The data was consistent with the results from a large mid-stage trial that showed the drug, evolocumab, lowered LDL cholesterol by 52 percent after one year of treatment. Evolocumab belongs to class of drugs called PCSK9 inhibitors, which work by blocking a protein that prevents the liver from removing LDL cholesterol from blood.

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