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Amgen (NASDAQ:AMGN)‘s stock had its “overweight” rating restated by research analysts at Morgan Stanley in a report released on Tuesday. They currently have a $140.00 price objective on the stock. Morgan Stanley’s target price points to a potential upside of 20.27% from the company’s current price.

The analysts wrote, “David W. Meline, former CFO of 3M, appointed new CFO: Meline joins from 3M where he served as CFO for the last 3 years and corporate controller for the 3 years prior to CFO. Amgen has been without a permanent CFO since Jon Peacock stepped down on 1/10/2014. “Multi-national and P&L management experience cited as key attributes: Amgen management cited Meline’s experience as a divisional CFO at GM for Brazil, Europe and North American, plus his experience at 3M as CFO for a company with operations in 70 countries, as important experience he can bring to Amgen as it expands its international operations – a goal which remains a priority for management. “Further, Meline understands how to run a cost efficient business – another key area that Amgen management cited as important to the CFO role.”

Shares of Amgen (NASDAQ:AMGN) traded down 0.23% on Tuesday, hitting $116.13. 342,768 shares of the company’s stock traded hands. Amgen has a 1-year low of $95.05 and a 1-year high of $128.96. The stock’s 50-day moving average is $113.9 and its 200-day moving average is $117.5. The company has a market cap of $87.913 billion and a P/E ratio of 18.90.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.87 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.94 by $0.07. The company had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.76 billion. During the same quarter in the prior year, the company posted $1.96 earnings per share. The company’s quarterly revenue was up 6.7% on a year-over-year basis. On average, analysts predict that Amgen will post $8.09 earnings per share for the current fiscal year.

A number of other firms have also recently commented on AMGN. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Amgen in a research note on Monday, May 12th. Separately, analysts at Zacks downgraded shares of Amgen from an “outperform” rating to a “neutral” rating in a research note on Tuesday, May 6th. They now have a $119.00 price target on the stock. Finally, analysts at Zacks reiterated an “outperform” rating on shares of Amgen in a research note on Wednesday, April 23rd. They now have a $143.00 price target on the stock. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $132.25.

Amgen Inc is a global biotechnology pioneer that discovers, develops, manufactures and delivers human therapeutics.

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