Amgen resumed with an Equal Weight at Morgan Stanley

Morgan Stanley resumed coverage of Amgen with an Equal Weight rating and $300 price target. Following the recent closing of the Horizon acquisition, the firm sees the outlook for Amgen shares hinging on growth of the Horizon rare disease franchises such as Tepezza, Krystexxa and Uplinza and pipeline progress. The firm sees the risk/reward as balanced post the recent move in the shares, the analyst tells investors.