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Article Excerpt
M2 PRESSWIRE-1 February 2006-BUYINS.NET: Amgen (AMGN) SqueezeTrigger Price Is $68.95. Short Sellers Are Down Approximately $216 Million After Bank of America Reiterates Buy And $87 Target.(C)1994-2006 M2 COMMUNICATIONS LTD
RDATE:01022006
BUYINS.NET, www.buyins.net, announced today that the 21.99 million shares declared short on Amgen, Inc. (NASDAQ: AMGN) have a SqueezeTrigger Price of $68.95 per share. Amgen Inc., which was boosted today by a reiterated "Buy" rating and positive commentary from Bank of America in a review of the biotechnology sector. "We believe that Amgen should be a core biotechnology holding, and we would add to positions following recent weakness," wrote BofA analyst David Witzke, who gave the stock an $87 target price. Short sellers are down approximately $216 million as the stock is currently trading near $79.00. To access SqueezeTrigger Prices ahead of short squeezes beginning, visit http://www.buyins.net/squeezetrigger.pdf.
From January to December of 2005, an aggregate amount of 582,537,087 shares of AMGN have been shorted for a total dollar value of $40.16 billion. The AMGN SqueezeTrigger price of $68.95 is the volume weighted average price that all shorts are short in shares of AMGN. Since crossing above the SqueezeTrigger Price, shares of AMGN are up nearly 14%. There is still approximately $1.73 billion worth of potential short covering in shares of AMGN.
Amgen, Inc. (NASDAQ: AMGN), a biotechnology company, engages in the discovery, development, manufacture, and marketing of human therapeutics based on advances in cellular and molecular biology. The company markets human therapeutic products in the areas of nephrology, supportive cancer care, and inflammatory disease. Its products...
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