Amgen (NASDAQ:AMGN) has tumbled 3.33% during the past week and has dropped 0.37% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 2.17%. Amgen (NASDAQ:AMGN) has underperformed the index by 1.28% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Amgen (NASDAQ:AMGN): The stock opened at $152.61 on Friday but the bulls could not build on the opening and the stock topped out at $152.76 for the day. The stock traded down to $149.55 during the day, due to lack of any buying support eventually closed down at $149.62 with a loss of -1.76% for the day. The stock had closed at $152.30 on the previous day. The total traded volume was 4,682,336 shares.
The company shares have dropped -6.91% from its 1 Year high price. On Jul 31, 2015, the shares registered one year high at $181.81 and the one year low was seen on Sep 28, 2015. The 50-Day Moving Average price is $154.85 and the 200 Day Moving Average price is recorded at $153.70.
On the companys insider trading activities, The Securities and Exchange Commission has divulged that Balachandran Madhavan, officer (EVP, Operations) of Amgen Inc, had unloaded 30,000 shares at an average price of $154.12 in a transaction dated on May 4, 2016. The total value of the transaction was worth $4,623,600.
Many analysts have stated their opinion on the company shares. BMO Capital initiates coverage on Amgen (NASDAQ:AMGN) The current rating of the shares is Outperform. Equity Analysts at the Firm announces the price target to $183 per share. The rating by the firm was issued on April 5, 2016. Currently the company Insiders own 0.2% of Amgen shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -25.24% . Institutional Investors own 83.17% of Amgen shares. During last six month period, the net percent change held by insiders has seen a change of -25.24%.
Amgen Inc. (Amgen) is a biotechnology company. The Company is engaged in discovering, developing, manufacturing and delivering human therapeutics. The Companys sales and marketing forces are located in the United States and Europe. In the United States, it sells its products to pharmaceutical wholesale distributors. The Company also markets certain products directly to consumers through direct-to-consumer print and television advertising, as well as through the Internet. Outside the United States, the Company sells its products to healthcare providers and/or pharmaceutical wholesale distributors. The Companys products include Neulasta (pegfilgrastim)/NEUPOGEN (filgrastim), Enbrel (etanercept), XGEVA/Prolia (denosumab), ESAs (erythropoiesis-stimulating agents), Sensipar/Mimpara (cinacalcet), Kyprolis and Evolocumab, among others.