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

Amgen Inc. (NASDAQ:AMGN) was the recipient of unusually large options trading activity on Thursday. Stock investors purchased 38,050 put options on the company. This represents an increase of 309% compared to the typical volume of 9,295 put options.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 2,970 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $402.16, for a total transaction of $1,194,415.20. Following the transaction, the senior vice president directly owned 7,340 shares in the company, valued at $2,951,854.40. This trade 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 available at the SEC website. Also, SVP Rachna Khosla sold 1,252 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $416.43, for a total value of $521,370.36. Following the completion of the sale, the senior vice president directly owned 6,404 shares of the company’s stock, valued at $2,666,817.72. This represents a 16.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 6,222 shares of company stock valued at $2,540,926 over the last quarter. 0.85% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amgen

Several large investors have recently bought and sold shares of the business. Tower View Wealth Management LLC grew its stake in shares of Amgen by 331.6% during the first quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company’s stock worth $29,000 after purchasing an additional 63 shares during the period. Evergreen Advisors LLC acquired a new position in Amgen in the first quarter valued at about $37,000. Sfam LLC acquired a new position in Amgen in the fourth quarter valued at about $38,000. Advocate Investing Services LLC bought a new position in Amgen during the fourth quarter worth about $39,000. Finally, University of Texas Texas AM Investment Management Co. bought a new position in Amgen during the fourth quarter worth about $44,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMGN has been the subject of several analyst reports. Scotiabank boosted their target price on Amgen from $385.00 to $450.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Wells Fargo & Company lifted their price target on shares of Amgen from $400.00 to $435.00 and gave the company an “equal weight” rating in a research report on Friday, September 4th. BMO Capital Markets cut shares of Amgen from an “outperform” rating to a “market perform” rating and set a $450.00 price objective for the company. in a research note on Tuesday. Piper Sandler upped their price objective on shares of Amgen from $427.00 to $457.00 and gave the stock an “overweight” rating in a report on Thursday, August 20th. Finally, Weiss Ratings upgraded shares of Amgen from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, August 6th. 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 stock. According to data from MarketBeat.com, Amgen currently has an average rating of “Hold” and a consensus target price of $381.68.

More 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 Price Performance

Shares of AMGN traded down $8.93 during mid-day trading on Thursday, reaching $382.34. The company had a trading volume of 2,313,184 shares, compared to its average volume of 2,712,690. The company has a debt-to-equity ratio of 4.44, a current ratio of 1.37 and a quick ratio of 1.13. The company has a market capitalization of $206.71 billion, a P/E ratio of 23.78, a P/E/G ratio of 2.83 and a beta of 0.43. Amgen has a twelve month low of $269.77 and a twelve month high of $447.03. The company’s 50-day moving average is $400.14 and its 200-day moving average is $367.79.

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

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be given a $2.52 dividend. This represents a $10.08 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Friday, August 21st. Amgen’s dividend payout ratio (DPR) is presently 62.65%.

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.