Amgen price target lowered to $329 from $333 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Amgen (AMGN) to $329 from $333 and keeps an Equal Weight rating on the shares. A Q3 beat on revenue and EPS benefitted from some one-timers, notes the analyst, who also points out that the company raised FY25 revenue and EPS guidance by about 2% and 1% at the midpoints, respectively. New launches and pipeline progress remain a focus going forward, the analyst tells investors.