Amgen (AMGN) Offering Possible 15.61% Return Over the Next 24 Calendar Days

Amgen's most recent trend suggests a bearish bias. One trading opportunity on Amgen is a Bear Call Spread using a strike $160.00 short call and a strike $170.00 long call offers a potential 15.61% return on risk over the next 24 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $160.00 by expiration. The full premium credit of $1.35 would be kept by the premium seller. The risk of $8.65 would be incurred if the stock rose above the $170.00 long call strike price.

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

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

The RSI indicator is at 24.56 level which suggests that the stock is neither overbought nor oversold at this time.

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LATEST NEWS for Amgen

UCB Stock Plunges After Trials Reveal Safety Risk in Amgen JV
Mon, 22 May 2017 09:01:00 +0000
UCB stock plummeted Monday after clinical trials shone a light over a possible safety risk related to the Osteoporosis treatment that it has been developing alongside Amgen

Higher rate of heart problems seen with Amgen bone drug in trial
Mon, 22 May 2017 00:56:02 +0000
Amgen Inc and UCB SA said on Sunday they did not expect their experimental osteoporosis drug to win U.S. approval this year after a higher rate of serious heart-related side effects were observed in a late-stage clinical trial. The drug, romosozumab, which would be sold under the brand name Evenity if approved, is awaiting an approval decision by the Food and Drug Administration. At the same time, the newly observed cardiovascular safety signal will have to be assessed as part of the overall benefit/risk profile for Evenity,” Amgen research chief Sean Harper said in a statement.

Amgen Osteoporosis Drug Approval Plan Derailed Over Newly Found Heart Safety Risk Signal
Mon, 22 May 2017 00:37:00 +0000
Amgen's osteoporosis setback will likely be seen as a providing a commercial boost to Radius Health, which secured U.S. approval in April for a competing osteoporosis drug, Tymlos.

Amgen And UCB Announce Top-Line Phase 3 Data From Active-Comparator Study Of EVENITY™ (Romosozumab) In Postmenopausal Women With Osteoporosis
Sun, 21 May 2017 22:00:00 +0000
THOUSAND OAKS, Calif. and BRUSSELS, May 21, 2017 /PRNewswire/ — Amgen (AMGN) and UCB (Euronext Brussels: UCB) today announced that the EVENITY™* (romosozumab) ARCH study met both primary endpoints and the key secondary endpoint. At the primary analysis, treatment with EVENITY for 12 months followed by alendronate significantly reduced the incidence of new vertebral fractures through 24 months, clinical fractures (primary endpoints) and non-vertebral fractures (key secondary endpoint) in postmenopausal women with osteoporosis at high risk for fracture, compared to alendronate alone.

Repatha® (Evolocumab) Reduced Cardiovascular Events In Patients With Baseline LDL-C Levels Below Current Targets
Sat, 20 May 2017 19:05:00 +0000
THOUSAND OAKS, Calif., May 20, 2017 /PRNewswire/ — Amgen (NASDAQ:AMGN) today announced new data from the Repatha ® (evolocumab) cardiovascular outcomes trial (FOURIER), which showed that Repatha consistently …

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