Amgen (AMGN) Offering Possible 15.47% Return Over the Next 7 Calendar Days

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Amgen’s most recent trend suggests a bullish bias. One trading opportunity on Amgen is a Bull Put Spread using a strike $167.50 short put and a strike $162.50 long put offers a potential 15.47% return on risk over the next 7 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $167.50 by expiration. The full premium credit of $0.67 would be kept by the premium seller. The risk of $4.33 would be incurred if the stock dropped below the $162.50 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 down which suggests that the medium-term momentum for Amgen is bearish.

The RSI indicator is at 39.95 level which suggests that the stock is neither overbought nor oversold at this time.

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LATEST NEWS for Amgen

Incyte Expected to Report Robust Revenue Growth in Fiscal 2018
Wed, 11 Apr 2018 18:55:02 +0000
In 2017, Incyte (INCY) reported total revenues of close to $1.5 billion, which was year-over-year (or YoY) growth of around 38.9%. The company earned revenues close to $1.1 billion from the sale of Jakafi, a JAK1/JAK2 inhibitor, in the US, and $152 million as royalties received from Novartis (NVS) on the sale of Jakafi, marketed as Jakavi, in international markets. Wall Street analysts have projected Incyte’s fiscal 2018 revenues to be close to $1.8 billion, which is a YoY rise of around 16.9%.

What Analysts Recommend for Incyte in April 2018
Wed, 11 Apr 2018 17:20:20 +0000
On April 6, 2018, Incyte (INCY) reported unfavorable results from its phase 3 ECHO-301/KEYNOTE-252 study, which evaluated the potential of the company’s investigational therapy, epacadostat, combined with Merck’s (MRK) Keytruda, in patients suffering from unresectable or metastatic melanoma as compared to those treated with Keytruda monotherapy. The trial failed to meet its first primary endpoint of improvement in progression-free survival and is also not expected to meet the second primary endpoint of overall survival. This news has had a drastic impact on Incyte’s stock, which fell ~22.9% from $83.07 on April 5, 2018, to $64.02 on April 6, 2018, and reduced the company’s market capitalization by approximately $3.5 billion.

Amgen Stock Performance in 1Q18
Tue, 10 Apr 2018 19:03:22 +0000
Amgen (AMGN) is a biotechnology company with headquarters in Thousand Oaks, California. Amgen discovers, develops, and delivers drugs for various therapeutic areas, including cardiovascular, neuroscience, and oncology.

Rhode Island governor says Amgen will build second plant in state
Tue, 10 Apr 2018 16:15:29 +0000
Amgen Inc will build a $165 million next-generation biopharmaceutical plant adjacent to its West Greenwich, Rhode Island manufacturing campus, the state governor’s office told Reuters on Tuesday. The plant will use Amgen’s new flexible and reconfigurable technology, part of the company’s ongoing efforts to control costs. Amgen, headquartered in Thousand Oaks, California, said in January it would locate the new plant in the United States, due in part to a lower effective tax rate stemming from U.S. tax reform.

Amgen Announces Rhode Island Will Be Location Of First US Next-Generation Biomanufacturing Plant
Tue, 10 Apr 2018 16:07:00 +0000
THOUSAND OAKS, Calif., April 10, 2018 /PRNewswire/ — Amgen (AMGN) today announced plans to build a new state-of-the-art next-generation biomanufacturing plant at its campus in West Greenwich, R.I. The new plant, the first of its kind in the United States (U.S.), will employ Amgen’s proven next-generation biomanufacturing capabilities and manufacture products for the U.S. and global markets. A next-generation biomanufacturing plant incorporates multiple innovative technologies into a single facility, and therefore is built in half the construction time with approximately one half of the operating cost of a traditional plant. Next-generation biomanufacturing plants require a smaller manufacturing footprint and offer greater environmental benefits, including reduced consumption of water and energy and lower levels of carbon emissions.

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