Amgen (AMGN) Offering Possible 36.99% Return Over the Next 35 Calendar Days

Amgen's most recent trend suggests a bullish bias. One trading opportunity on Amgen is a Bull Put Spread using a strike $230.00 short put and a strike $220.00 long put offers a potential 36.99% return on risk over the next 35 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $230.00 by expiration. The full premium credit of $2.70 would be kept by the premium seller. The risk of $7.30 would be incurred if the stock dropped below the $220.00 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 above 80 which suggests that the stock is in overbought territory.

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


What Kind Of Shareholders Own Amgen Inc. (NASDAQ:AMGN)?
Thu, 14 Jan 2021 04:25:41 +0000
Every investor in Amgen Inc. ( NASDAQ:AMGN ) should be aware of the most powerful shareholder groups. Large companies…

3 Top Biotech Picks for January
Wed, 13 Jan 2021 13:09:00 +0000
Biotech stocks were huge winners for investors last year, with some seeing 1,000% gains. If you're looking for a stock in this sector to add to your portfolio, Amgen (NASDAQ: AMGN), Trillium Therapeutics (NASDAQ: TRIL), and Illumina (NASDAQ: ILMN) are solid biotech choices for this month. Amgen, founded in 1980, is one of the older, larger biotech companies in the world.

The Daily Biotech Pulse: Bausch Health Issues Positive Pre-Announcement, Acorda Streamlines Operations
Wed, 13 Jan 2021 12:25:38 +0000
Here's a roundup of top developments in the biotech space over the last 24 hours.Scaling The Peaks (Biotech Stocks Hitting 52-week Highs Jan. 12) * AbbVie Inc (NYSE: ABBV) * AcelRx Pharmaceuticals Inc (NASDAQ: ACRX) * Aldeyra Therapeutics Inc (NASDAQ: ALDX) * Alkermes Plc (NASDAQ: ALKS) * AtriCure Inc. (NASDAQ: ATRC) * Bioanalytical Systems, Inc. (NASDAQ: BASI) * BIOLASE Inc (NASDAQ: BIOL) (announced an agreement to expand laser adoption and hands-on training programs in targeted geographies) * CareDx Inc (NASDAQ: CDNA) * Celsius Holdings, Inc. (NASDAQ: CELH) * DermTech Inc (NASDAQ: DMTK) * Dyne Therapeutics Inc (NASDAQ: DYN) * Edap Tms SA (NASDAQ: EDAP) * Evelo Biosciences Inc (NASDAQ: EVLO) * EXACT Sciences Corporation (NASDAQ: EXAS) * Eyenovia Inc (NASDAQ: EYEN) * Genetron Holdings Ltd – ADR (NASDAQ: GTH) * Guardant Health Inc (NASDAQ: GH) (reacted to presentation at the JPMorgan Healthcare Conference) * Intra-Cellular Therapies Inc (NASDAQ: ITCI) * Kaleido Biosciences Inc (NASDAQ: KLDO) * Laboratory Corp. of America Holdings (NYSE: LH) * Merus NV (NASDAQ: MRUS) (announced presentation of Phase 1 data for MCLA-158 in metastatic colorectal cancer) * OncoSec Medical Inc (NASDAQ: ONCS) * Pacira Biosciences Inc (NASDAQ: PCRX) * PRA Health Sciences Inc (NASDAQ: PRAH) * Provention Bio Inc (NASDAQ: PRVB) * SAGE Therapeutics Inc (NASDAQ: SAGE) * Supernus Pharmaceuticals Inc (NASDAQ: SUPN) * Syneos Health Inc (NASDAQ: SYNH) * Travere Therapeutics Inc (NASDAQ: TVTX) * Vericel Corp (NASDAQ: VCEL) * X T L Biopharmaceuticals Ltd (NASDAQ: XTLB) * Zai Lab Ltd – ADR (NASDAQ: ZLAB)Down In The Dumps (Biotech Stocks Hitting 52-week Lows Jan. 12) * Fusion Pharmaceuticals Inc (NASDAQ: FUSN) * Lexaria Bioscience Corp. (LXRP) (the company's shares uplisted to Nasdaq and it also announced a $9.6 million public offering) * Viveve Medical Inc (NASDAQ: VIVE)Stocks In Focus Acorda to Sell Parkinson's Disease Drug Manufacturing Facility, Reduce 16% of Workforce Acorda Therapeutics Inc (NASDAQ: ACOR) announced a definitive agreement to sell its Inbrija manufacturing operations in Chelsea, Massachusetts to Catalent Inc (NYSE: CTLT) for $80 million in cash.In connection with the sale, Acorda and Catalent have entered into a long-term global supply agreement under which Catalent will manufacture and package Inbrija for Acorda. As part of the deal, Catalent will absorb all Acorda employees who work at the Chelsea facility, and certain Acorda employees at the company's Waltham, Massachusetts facility.Acorda also announced a corporate restructuring to reduce costs and focus its resources on Imbrija. In addition to the associates who will transition to Catalent, Acorda is reducing its combined Ardsley, Waltham and field headcount by approximately 16% through a reduction in force.Acorda also said it entered into an at-the-market offering agreement with H.C. Wainwright & Co., for offering common stock having an aggregate value of up to $15.25 million.Acorda shares jumped 59.91% to $6.78 in premarket trading Wednesday.Morphosys, Incyte Announce Canadian Regulatory Submission For Blood Cancer Combo Treatment Morphosys Ag (NASDAQ: MOR) and Incyte Corporation (NASDAQ: INCY) said Health Canada has accepted the new drug submission for tafasitamab, an anti-CD19 antibody, in combination with Bristol-Myers Squibb Co's (NYSE: BMY) Revlimid for the treatment of adult patients with relapsed or refractory diffuse large B-cell lymphoma.Incyte has exclusive commercialization rights for tafasitamab outside of the U.S. and, if approved, Incyte will hold the marketing authorization for tafasitamab in Canada.Travere Gets Orphan Drug Designation For Sparsentan In Rare Kidney Disorder Travere announced that the FDA has granted orphan drug designation to sparsentan for the treatment of IgA nephropathy, a rare kidney disorder that causes end-stage kidney disease. Sparsentan is an investigational product candidate currently being evaluated for the treatment of IgAN, as well as focal segmental glomerulosclerosis in pivotal Phase 3 clinical trials that are expected to report topline data from interim proteinuria assessments in 2021.DermTech's Non-invasive Melanoma Genomic Test Recommended by National Comprehensive Cancer Network DermTech said non-invasive genomic patch testing for melanoma, like DermTech's pigmented lesion assay, has received a recommendation from the National Comprehensive Cancer Network. The recommendation indicates that there is uniform NCCN consensus that the intervention is appropriate. The NCCN Clinical Practice Guidelines in Oncology for cutaneous melanoma recognize the use of noninvasive genomic patch testing to help guide biopsy decisions for cutaneous melanoma.The stock gained 12.46% to $41.61 in after-hours trading.Amgen In-licenses Autoimmune Disorder Programs For Over $240M Amgen, Inc. (NASDAQ: AMGN) executed a license and collaboration agreement with EVOQ Therapeutics for the discovery and development of novel drugs for autoimmune disorders. Under the terms of the agreement, Amgen and EVOQ will collaborate on preclinical development and Amgen will be responsible for clinical development and commercialization.In exchange for exclusive rights to selected autoimmune programs, Amgen will make upfront and milestone payments potentially totaling more than $240 million, as well as pay royalties on sales of resulting therapies.Mersana Shares Gain On Insider Buying Mersana Therapeutics Inc (NASDAQ: MRSN) shares gained after a filing with the SEC revealed that Andrew Hack, a member of the board, bought 250,000 shares in the company.The stock added 7.34% to $19.45 in after-hours trading.Preannouncements Ahead of the presentation at the JPMorgan Health Conference Bausch Health Companies Inc (NYSE: BHC) said it expects fourth-quarter revenues to be greater than $2.20 billion. For the full year of 2020, the company expects to report revenues above the high-end of its revenue guidance range of $7.8 billion-$8 billion.Analysts, on average, estimate expect revenues of $2.12 billion for the fourth quarter and $7.94 billion for the full year.The company also guided to strong adjusted EBITDA.In after-hours trading, the stock rose 5.67% to $24.80.Neuronetics Inc (NASDAQ: STIM) preannounced fourth-quarter revenues of $15 million to $15.5 million, ahead of the guidance of $13 million and $13.5 million. For the full year, revenues are estimated between $48.7 million and $49.2 million. The consensus estimates call for revenues of $13.24 for the fourth quarter and $46.93 for the full year.The stock rallied 14.82% to $13.40 in after-hours trading.Clearpoint Neuro Inc (NASDAQ: CLPT) preannounced above-consensus revenues for the fourth quarter and full year.The stock was up 3.43% to $15.99 in after-hours trading.Offerings Provention Bio Inc (NASDAQ: PRVB) said it has commenced an underwritten public offering of 6 million shares of its common stock. All of the shares to be sold in the offering are to be sold by the company.The stock fell 10.03% to $17.50 in after-hours trading.Affimed NV (NASDAQ: AFMD) announced the commencement of an underwritten public offering of its common shares. The offering is subject to market conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering, the company added.In the after-hours session, the stock slipped 7.85% to $6.10.See more from Benzinga * Click here for options trades from Benzinga * The Daily Biotech Pulse: GSK, Vir To Start COVID-19 Antibody Study, Novartis In-Licenses BeiGene's Cancer Drug, Earnings Preannouncements Continue * The Week Ahead In Biotech (Jan 10-16): Expect Stocks To Move As J.P. Morgan Healthcare Conference Kicks Off(C) 2021 Benzinga does not provide investment advice. All rights reserved.

Amgen To Showcase Next Frontier Of Innovation In Lung Cancer Therapies At WCLC 2020
Tue, 12 Jan 2021 14:00:00 +0000
Amgen (NASDAQ:AMGN) today announced new data from its oncology pipeline in lung cancer will be presented during the 2020 World Conference on Lung Cancer (WCLC) hosted by the International Association for the Study of Lung Cancer taking place virtually from Jan. 28-31, 2021.

Gilead, Biogen Lead Biotechs That ‘Need to Do Deals’ for Growth
Tue, 12 Jan 2021 13:56:26 +0000
(Bloomberg) — Biotech mergers should pick up steam this year as cash-rich companies whose shares stumbled through 2020 — like Amgen Inc. and Gilead Sciences Inc. — look to replenish wavering pipelines.The first two weeks of the year already produced four large tie-ups in health care, and the JPMorgan Healthcare Conference, which kicked off Monday, has typically lent itself to deal news. Wall Street’s anticipation comes as a bevy of heavyweights need to refill their portfolios ahead of expiring patents and emerging competition.“A lot of the big guys, including the pharmaceuticals and not just the biotechs, need to do deals,” BNP Paribas Asset Management portfolio manager Christian Fay said in an interview. “2021 will be better for biopharma deals for sure.”A basket of stocks of the two companies plus Biogen Inc. has fallen 4% since the start of 2020, compared with the 31% gain in the broader Nasdaq Biotech Index.Investors had pushed many of the giants aside last year as they flocked to more innovative smaller companies or some involved in quashing the Covid-19 pandemic. Stock pickers and analysts now see more deals ahead after AstraZeneca Plc’s $39 billion purchase of Alexion Pharmaceuticals Inc.Here are some companies that analysts and investors expects to strike deals in 2021:BiogenHaves: Biogen’s multiple sclerosis and spinal muscular atrophy drugs present a solid base of sales. Potential approval of its experimental Alzheimer’s disease medicine by a March decision date is key after management put “all of their eggs in aducanumab and not building their pipeline,” Fay said.Needs: The company is starved for growth with analysts expecting drug sales to decline over the next two years after a blow to its blockbuster multiple sclerosis drug Tecfidera. Wall Street isn’t sold on whether its $3 billion pact with Sage Therapeutics Inc. will have a near-term impact. Biogen could take on debt to make a deal, but the question is whether it re-rates the stock, Mizuho analyst Salim Syed said. “People are trying to understand whether the equity story gets better if they make a deal,” he said.Stock performance in 2020: -17%AmgenHaves: It delivered some promising pipeline results including data from cancer therapy sotorasib in 2020. Sales for copycat drugs of competitors’ medicines are worth watching with Goldman Sachs highlighting the company among those “best positioned to capitalize on bispecifics.”Needs: Its cardiology business needs a boost after the company terminated a Cytokinetics Inc. partnership for a heart-failure drug. After some underwhelming results from a catalyst-heavy 2020 left the stock lower for the year, Wall Street asked what’s left for shares ahead of a potential rotation out of the $138 billion biotech.“We have deep pockets but short arms, and we’ll dig in for the right opportunities as we have over the past two years,” Amgen CEO Robert Bradway said at the JPMorgan conference Monday. The company doesn’t want to “chase valuations” that could make the biotech’s shareholders lose, he said.Stock performance in 2020: -4.6%Merck & Co.Haves: Merck’s juggernaut cancer drug Keytruda is expected to top $20 billion in annual sales by 2023, according to data compiled by Bloomberg, showing it’s not in a crunch to pull the trigger on deals. The company has been active in striking pacts, buying closely held OncoImmune for $425 million in cash.Needs: Many on Wall Street see Merck leaning further into cancer technologies as it faces patent risks by the end of the decade. It “will be in focus” given the expected completion of its Organon spinoff in the second-quarter, which will leave it flush with $8 billion to $9 billion in a special dividend, Goldman’s Asad Haider wrote. Merck is “actively looking across the entire spectrum of assets to create the strongest portfolio,” the company said in a statement Monday.Stock performance in 2020: -10%Pfizer Inc.Haves: Pfizer’s ability to get a Covid vaccine to market in record time was “nothing short of remarkable,” RBC Capital said. Deployment of the shots adds to Pfizer’s strong portfolio of blockbusters like Ibrance for breast cancer and blood thinner Eliquis with total drug sales expected to top $50 billion this year, data compiled by Bloomberg show.Needs: Still, Pfizer could string smaller deals together to beef up its drug pipeline, BNP Paribas’s Fay said. After a setback for Ibrance, the company could look to bolster its cancer drug portfolio, Jefferies health specialist Jared Holz said. A bigger takeout or more bolt-on acquisitions are likely needed to win over investors as it aims to backfill key patent losses in the medium term.Stock performance in 2020: -0.9%Vertex Pharmaceuticals Inc.Haves: Vertex’s cystic fibrosis concentration has made it one of the most successful biotechs of the past five years. Trikafta is expected to rack up $6.8 billion in sales by 2023. The relative pure play company helps make it “very attractive” ahead of key data readouts in 2021, said Amy Kong, chief investment officer of Barrett Asset Management.Needs: The company is in prime position to strike deals, with $6.2 billion in cash on hand and the need to “become a growth stock again,” Loncar Investments Chief Executive Officer Brad Loncar said. He sees a takeout of partner Crispr Therapeutics AG making “a lot of sense” for its gene-editing technology. At the JPMorgan conference, Vertex CEO Reshma Kewalramani said the company is interested in mid- and late-stage assets and technologies to expand its toolkit.Stock performance in 2020: +7.9%Gilead SciencesHaves: Rapid development of Covid-19 therapeutic Veklury, the brand name for remdesivir, was estimated to bring about $2.8 billion in sales for 2020. Those sales, paired with recent purchases of cancer drug developers Immunomedics Inc. and Forty Seven Inc. and sales growth for its HIV franchise, have been key focuses for bulls.Needs: A restructured partnership with Galapagos NV and a 2017 acquisition of Kite Pharma, the maker of CAR-T cancer therapy Yescarta, have turned up the pressure on Gilead to get deals right. Its shares limped through the end of 2020 after the pair of takeouts and success for a Covid-19 therapy failed to offset broader concerns over its future.Stock performance in 2020: -10%For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

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