Amgen (AMGN) Offering Possible 36.05% Return Over the Next 36 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 $235.00 long put offers a potential 36.05% return on risk over the next 36 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 $2.65 would be kept by the premium seller. The risk of $7.35 would be incurred if the stock dropped below the $235.00 long put 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 up which suggests that the medium-term momentum for Amgen is bullish.

The RSI indicator is at 67.53 level which suggests that the stock is neither overbought nor oversold at this time.

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LATEST NEWS for Amgen

Amgen Stock: Is The Biotech Behemoth A Buy Amid A Breakout?
Tue, 14 Jul 2020 13:15:53 +0000
Amgen stock broke out amid a two-pronged approach to coronavirus treatment, partnering with Adaptive Biotechnologies and testing Otezla in Covid-19. So, is Amgen stock a buy now?

Why BeiGene's Stock Is Trading Higher Today
Mon, 13 Jul 2020 14:51:14 +0000
BeiGene (NASDAQ: BGNE) shares are trading higher on Monday after Amgen announced a $421 million investment in the company.BeiGene is a clinical-stage biopharmaceutical company. It is engaged in the discovery and development of molecularly targeted and immuno-oncology drugs for the treatment of cancer. The company has developed a proprietary cancer biology platform that addresses the importance of tumor-immune system interactions and the value of primary biopsies in developing new models to support its drug discovery effort.It has developed clinical-stage drug candidates that inhibit the important oncology targets Bruton's tyrosine kinase, or BTK; RAF dimer protein complex and PARP family of proteins, and an immuno-oncology agent that inhibits the immune checkpoint protein receptor PD-1.BeiGene's stock traded up 10.80% to $217.21 per share at the time of publication on Monday. The stock has a 52-week high of $217.46 and a 52-week low of $114.41.See more from Benzinga * Why Roku's Stock Is Trading Higher Today * Why Microchip Technology's Stock Is Trading Higher Today * Why Overstock Is Trading Higher Today(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Amgen (AMGN) Invests Further in China-Based Oncology Partner
Mon, 13 Jul 2020 14:11:02 +0000
Amgen (AMGN) announces additional investment of approximately $421 million in BeiGene. The companies have a collaboration for oncology products signed in 2019.

Amgen Pours A Further $421M Into China’s BeiGene
Mon, 13 Jul 2020 10:40:34 +0000
Amgen (AMGN) has announced an additional investment of approximately $421 million in BeiGene’s (BGNE) registered direct offering of ordinary shares.This investment maintains Amgen’s current pro rata ownership of Chinese biotech BeiGene at approximately 20.3%. Beigene currently markets two key oncology products: BTK inhibitor zanubrutinib in the United States, and anti-PD-1 antibody tislelizumab in China.According to Amgen the additional investment “reflects Amgen’s confidence in the progress the companies are making in their ongoing oncology collaboration in China, the world’s second largest pharmaceutical market.”Shares in Amgen are up 3% year-to-date, and analysts have a cautiously optimistic Moderate Buy consensus on the stock. That’s with a $259 average analyst price target (4% upside potential).On July 1, JP Morgan’s Cory Kasimov reiterated his hold rating on Amgen after the Federal Circuit affirmed the validity of two patents covering autoimmune treatment Enbrel. “While we acknowledge a prominent headwind is now lifted, today’s favorable outcome is in line with our outlook for Enbrel and thus doesn’t change our estimates” the analyst wrote.Overall, his focus for the company shifts to three key late-stage pipeline readouts with 1) sotorasib (AMG 510; KRAS) in lung cancer; 2) tezepelumab (TSLP) in asthma; and 3) omecamtiv mecarbil (OM) in HF expected in 2H20, which should provide greater visibility into the mid-to-longer term outlook for the company.“In spite of potential multiple expansion, we need more visibility on clinical data from each program (and how ‘510 and TSLP stack up to competition) in order to get more constructive on Amgen’s overall top-line outlook” Kasimov concludes. (See AMGN stock analysis on TipRanks).Related News: BeiGene Plans $2B Direct Offering; Analyst Sees Further Upside Ahead Gilead Reveals Covid-19 Treatment Remdesivir Reduces Mortality Risk Moderna Inks Deal With Rovi To Supply Potential Covid-19 Vaccine Outside US More recent articles from Smarter Analyst: * Qualcomm Buys Stake In Reliance’s Jio For $97.1M To Support 5G Rollout In India * Analog Devices Is Said To Be In Talks To Snap Up Maxim For About $20B * Tesla Sets Date For “Battery Day”, Analyst Says It Could Be 'Game-Changing' * Carnival Spikes 11% On Demand Optimism; Analyst Warns Risk Remains

Amgen Announces Additional Investment In BeiGene
Mon, 13 Jul 2020 02:00:00 +0000
Amgen (NASDAQ:AMGN) today announced an additional investment of approximately $421 million in BeiGene's registered direct offering of ordinary shares, which maintains Amgen's current pro rata ownership of BeiGene at approximately 20.3%. This additional investment reflects Amgen's confidence in the progress the companies are making in their ongoing oncology collaboration in China, the world's second largest pharmaceutical market.

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