Amgen (AMGN) Offering Possible 22.25% Return Over the Next 22 Calendar Days

Amgen's most recent trend suggests a bullish bias. One trading opportunity on Amgen is a Bull Put Spread using a strike $245.00 short put and a strike $240.00 long put offers a potential 22.25% return on risk over the next 22 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $245.00 by expiration. The full premium credit of $0.91 would be kept by the premium seller. The risk of $4.09 would be incurred if the stock dropped below the $240.00 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 79.24 level which suggests that the stock is neither overbought nor oversold at this time.

To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here


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Benefitfocus and Five Prime Therapeutics See Analyst Action
Fri, 19 Mar 2021 23:49:00 +0000
Indaba Capital wants a board “refresh” at benefits-management software firm Benefitfocus. Magnetar Capital disclosed a large stake in biopharmaceutical firm Prime Therapeutics.

Though Potential Bidders Moved Away, Amgen's Bid For Five Prime Outlasted 15 Suitors
Fri, 19 Mar 2021 18:29:29 +0000
Earlier this month, biotech giant Amgen Inc (NASDAQ: AMGN) announced a .9 billion buyout of Five Prime Therapeutics Inc (NASDAQ: FPRX) that outlasted around 15 potential collaborators. Background: Amgen’s interest in FPRX goes back to 2019 when it, alongside others (not named in the SEC filing), tried to bet on FPRX’s pipeline. In November, Five Prime’s bemarituzumab data hit the primary endpoint goal, a moment the company had been waiting for quite some time. The Phase 2 study enrolled 155 people with FGFR2b-positive tumors and randomized them to receive bemarituzumab or placebo on top of chemotherapy. Progression-free survival in patients in the bemarituzumab arm on top of chemotherapy was 9.5 months, more than two months longer than in the control arm. Bids To Collaborate: After the November data, FPRX initially was thinking about a bemarituzumab research deal (Bema Collaboration), which caught the attention of Amgen but also parties A through G. In all, Five Prime said the Bema collab program saw 15 “potential counterparties.” Later, the company sat down and decided one of these Bema parties might want to buy the company outright. A collab, however, was still on the table, and parties A, B, C, and D were getting even more interested. “In particular, on January 14 and 25, senior management of the Company met with executive management of Party C to discuss the Bema program and Party C’s capabilities as a potential collaboration partner,” Five Prime explains in the filing. “On Jan 23, a senior representative of Party C, called William Ringo, Chairman of the Five Prime Board, to reiterate Party C’s interest in Bema and confirmed Party C was planning on submitting a Bema Collaboration proposal the following week. On Jan 22, Party B’s representative emailed Dr. Mody to indicate that Party B’s intention was to submit a Bema Collaboration proposal. On Jan 23, Dr. Mody spoke with a representative of Party D, who indicated that Party D was finalizing its proposal and would submit a request by Jan 29. Besides, Party A also wanted in. Party C, however, told the biotech it “was interested in a strategic acquisition of Five Prime rather than a Bema Collaboration.” It offered Five Prime $25 per share in cash. Then, Company D swooped in with an offer. (Though the financials of that were not revealed). Final Bid: On Feb 1, it was made known that “Amgen was open to considering an acquisition of the Company.” For the next few weeks, parties C and D and Amgen remained committed to a buyout deal, with others dropping out, preferring a Bema collab. Party D later dropped out, leaving C and Amgen to battle it out at the end of February. Party C was not sure, saying it would only pay in the late $20s to low $30s. Then came Amgen’s $38 per share offer, which won the day. Amgen’s Acquisition: Five Prime acquisition is Amgen’s biggest buyout after Onyx Pharmaceuticals in 2013 for $10.4 billion. In recent years, it also bought arthritis med Otezla from Celgene/Bristol Myers Squibb for $13.4 billion and penned a BeiGene collab for $2.7 billion for a 20.5% stake in the company. Price Action: FPRX shares are up 0.13% at $37.71, and AMGN is up 0.05% at $244.64 in market trading hours on the last check Friday. See more from BenzingaClick here for options trades from BenzingaFDA Updates Fact Sheets For Eli Lilly, Regeneron's COVID-19 Antibody Therapies Under Emergency UseOramed Shares Gain On COVID-19 Vaccine Joint Venture Pact© 2021 Benzinga does not provide investment advice. All rights reserved.

Laryngeal Cancer Therapeutics Market To See $635M Growth By 2025 And These 2 Companies Will Be Key Drivers: Research
Thu, 18 Mar 2021 07:42:07 +0000
The global laryngeal cancer therapeutics market is expected to grow by $635.07 million during 2021-2025 helped by Amgen Inc (NASDAQ: AMGN) and AstraZeneca Plc (NYSE: AZN) as key contributors to growth, according to a study by research firm Technavio. What Happened: The laryngeal cancer therapeutics market will grow at a CAGR of 6.50% during 2021-2025 period. This marks a significant slow down compared to the 2020 growth estimates due to the impact of the COVID-19 pandemic, according to the report. The high mortality rate and the increasing prevalence of laryngeal cancer have resulted in a growing need for novel therapeutics. Several pharmaceutical companies have undertaken research and development on novel PD-1 inhibitors, PD-L1 inhibitors which are associated with head and neck cancers. According to the report, North America will contribute about 43% of the growth during the forecast period led by the United States as a key contributor. However, growth in the region will be slower than that of Asia, the report said. Why Is It Important: The increasing preference for therapeutics to treat various head and neck cancer indications is one of the prime factors that will facilitate the laryngeal cancer therapeutics market growth in North America over the forecast period. Key players include Amgen, which provides Vectibix (panitumumab) as a first-line treatment to patients and AstraZeneca, which combats metastatic and resistant disease by defining new biomarkers and therapeutic targets. Other players include Bristol-Myers Squibb Co (NYSE: BMY), Roche Holdings AG Basel (OTC: RHHBY) and Merck & Co. Inc (NYSE: MRK). Price Action: AstraZeneca shares closed slightly higher at $50.07 on Wednesday and Amgen shares were up 1.6% at $244.27. Latest Ratings for AZN DateFirmActionFromTo Mar 2021JefferiesUpgradesHoldBuy Mar 2021SVB LeerinkMaintainsOutperform Feb 2021UBSUpgradesNeutralBuy View More Analyst Ratings for AZN View the Latest Analyst Ratings See more from BenzingaClick here for options trades from BenzingaStarbucks Gets Cowen Upgrade On Expectations Of Footfalls Reaching Pre-Pandemic Levels: What You Should KnowLordstown Motors Debut Earnings Report Gets Clouded In SEC Inquiry Reveal© 2021 Benzinga does not provide investment advice. All rights reserved.

The Zacks Analyst Blog Highlights: NIKE, Broadcom, Amgen, BlackRock and Estee Lauder
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