Stock Traders Buy Large Volume of Put Options on Amgen (NASDAQ:AMGN)

Amgen Inc. (NASDAQ:AMGN) was the target of some unusual options trading activity on Thursday. Stock traders bought 38,050 put options on the stock. This is an increase of 309% compared to the average daily volume of 9,295 put options.

Amgen Stock Down 2.3%

AMGN traded down $8.93 on Thursday, reaching $382.34. 2,313,184 shares of the company traded hands, compared to its average volume of 2,712,690. The stock’s 50 day moving average price is $400.14 and its 200-day moving average price is $367.79. Amgen has a 52-week low of $269.77 and a 52-week high of $447.03. The company has a market cap of $206.71 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 2.83 and a beta of 0.43. The company has a debt-to-equity ratio of 4.44, a current ratio of 1.37 and a quick ratio of 1.13.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, August 4th. The medical research company reported $6.29 earnings per share for the quarter, beating the consensus estimate of $5.62 by $0.67. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The firm had revenue of $10.05 billion for the quarter, compared to analyst estimates of $9.43 billion. During the same quarter in the prior year, the business earned $6.02 EPS. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. On average, sell-side analysts expect that Amgen will post 22.97 EPS for the current fiscal year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 21st will be paid a $2.52 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $10.08 dividend on an annualized basis and a dividend yield of 2.6%. Amgen’s dividend payout ratio is 62.65%.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 2,970 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $402.16, for a total value of $1,194,415.20. Following the transaction, the senior vice president owned 7,340 shares of the company’s stock, valued at approximately $2,951,854.40. This represents a 28.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Rachna Khosla sold 1,252 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $416.43, for a total value of $521,370.36. Following the sale, the senior vice president owned 6,404 shares of the company’s stock, valued at $2,666,817.72. This trade represents a 16.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 6,222 shares of company stock valued at $2,540,926 over the last 90 days. 0.85% of the stock is currently owned by insiders.

Institutional Trading of Amgen

Institutional investors have recently bought and sold shares of the company. Tower View Wealth Management LLC grew its stake in shares of Amgen by 331.6% in the 1st quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company’s stock valued at $29,000 after buying an additional 63 shares in the last quarter. Evergreen Advisors LLC acquired a new stake in Amgen in the first quarter valued at approximately $37,000. Sfam LLC acquired a new stake in Amgen in the fourth quarter valued at approximately $38,000. Advocate Investing Services LLC bought a new stake in Amgen in the fourth quarter worth approximately $39,000. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in Amgen in the fourth quarter worth approximately $44,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AMGN. Piper Sandler lifted their target price on Amgen from $427.00 to $457.00 and gave the stock an “overweight” rating in a report on Thursday, August 20th. BMO Capital Markets lowered Amgen from an “outperform” rating to a “market perform” rating and set a $450.00 price target for the company. in a research report on Tuesday. Sanford C. Bernstein lifted their price target on Amgen from $335.00 to $345.00 and gave the stock a “market perform” rating in a research note on Thursday, August 6th. Argus boosted their price objective on Amgen from $375.00 to $460.00 and gave the stock a “buy” rating in a report on Wednesday, August 19th. Finally, TD Cowen boosted their price objective on Amgen from $420.00 to $452.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Amgen presently has an average rating of “Hold” and an average target price of $381.68.

Key Amgen News

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen and AstraZeneca reported that the Imdelltra-Imfinzi combination improved survival outcomes in a late-stage study of patients with extensive-stage small-cell lung cancer. The results could support expanded first-line use for Imdelltra and broaden the drug’s commercial opportunity. AMGN, AZN Drug Combo Shows Survival Benefit in Lung Cancer Study
• Positive Sentiment: Amgen upgraded its rating in a Seeking Alpha analysis, with the author arguing that the selloff connected to Novartis creates an attractive entry point. TD Cowen and Piper Sandler also maintained Buy ratings, offering some support for investor sentiment. Amgen: Buy The Novartis-Driven Selloff
• Neutral Sentiment: Amgen announced a Phase 4 clinical study evaluating Repatha’s impact on coronary plaque. The trial could provide additional evidence supporting Repatha’s long-term value, but it is unlikely to affect near-term results. Amgen’s New Repatha Plaque Trial
• Neutral Sentiment: Cantor Fitzgerald reaffirmed a Neutral rating, while Wells Fargo maintained Hold. Amgen is also scheduled to present at the Morgan Stanley Global Healthcare Conference, creating a potential near-term source of updates on its pipeline and outlook. Cantor Fitzgerald Reaffirms Neutral Rating
• Negative Sentiment: Novartis’ failure in an olpasiran cardiovascular-outcomes trial triggered concern that the result could challenge expectations for cholesterol-lowering therapies, including Amgen’s Repatha. The news intensified fears about the commercial outlook for the PCSK9 class and prompted the sharpest pressure on AMGN. Amgen Falls as Novartis Trial Failure Clouds Cholesterol Drug Class
• Negative Sentiment: Investors remain concerned about declining Prolia and XGEVA sales from biosimilar competition, while Amgen must continue funding its MariTide obesity-drug program. Analysts argue that the stock’s valuation assumes margin expansion despite these pressures. Amgen’s Forward Multiple Looks Cheap Until You Price the Margins It Assumes

Amgen Company Profile

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research focuses on areas including oncology, cardiovascular disease, inflammation, bone health, nephrology and rare diseases. The company uses biologic research, genetics and other advanced technologies to develop treatments intended to address significant unmet medical needs.

Amgen’s medicines include Enbrel for certain inflammatory diseases; Prolia and Evenity for bone-related conditions; Xgeva for complications associated with cancer and bone disease; Repatha for cardiovascular risk reduction; Otezla for inflammatory conditions; and Aimovig for migraine prevention.