Stock in Focus: Amgen, Inc. (NASDAQ: AMGN)

[PRNewswire] Amgen, Inc. (NASDAQ: AMGN) announced that the U.S. Food and Drug Administration (FDA) has accepted for review the Biologics License Application (BLA) for the investigational bispecific T cell engager (BiTE®) antibody construct, blinatumomab. The BLA is for the treatment of adults with Philadelphia-negative (Ph-) relapsed/refractory B-precursor acute lymphoblastic leukemia (ALL), a rapidly progressing cancer of the blood and bone marrow.1 As part of the acceptance, the FDA granted blinatumomab priority review with a Prescription Drug User Fee Act (PDUFA) action date of May 19, 2015.Stock PerformanceTaking a look at the company’s recent performance, Amgen, Inc. (NASDAQ: AMGN) reported second quarter earnings for fiscal year 2014 on July 29^th 2014. The company reported actual earnings per share of $2.37 against the consensus Street estimate of $2.07.This represents year over year growth of 20.25%. Amgen posted revenue of $5.18billion against estimates of $4.90Billion. Amgen is currently valued at $104.08billion and closed the last trading session at $137.39. The stock has a 50-day moving average of $137.36 and a 200-day moving average of $123.34.Is this a Buying Opportunity?There are currently seventeen analysts that we track that cover the stock. Of those seventeen one, twelve have Buy rating and five have a hold rating. On a consensus basis this yields a score of 2.76 and a buy. The combined price objective of these covering analysts is $144.22, which represents a 3.80% upside difference to the last closing price. The most recent analyst activity consisted of Bank of America who initiated coverage with neutral stance on the company. Bank of America has a price target of $152 which represents an upside of 9.49% from the last closing price. On the date of the report, the stock closed at $138.82.Another research firm weighing in recently was Morgan Stanley who boosted price target with overweight stance on the stock. On September 17^th 2014 Morgan Stanley upgraded their price target on the stock from $143.00 to $151.00, or a 7.31% upside to the current price. On the day of the report, AMGN shares closed at $140.71.Company ProfileAmgen, Inc. (NASDAQ: AMGN) a biotechnology company, discovers, develops, manufactures, and delivers human therapeutics in the areas of oncology, hematology, inflammation, bone health, nephrology, cardiovascular, and general medicine worldwide. Its principal products include Neulasta, a pegylated protein for the treatment of chemotherapy-induced febrile neutropenia; NEUPOGEN, a recombinant-methionyl human granulocyte colony-stimulating factor for treating the patients with non-myeloid malignancies; and Enbrel for the treatment of rheumatoid arthritis, plaque psoriasis, and psoriatic arthritis in adult patients.