Amgen (NASDAQ:AMGN) announced plans to purchase KAI Pharmaceuticals.KAI’s main product, KAI-4169 is currently in its mid-stage development for treatment of patients with hyperparathyroidism with kidney failure.Amgen wil purchase Kai for $315 million in cash.Amgen (NASDAQ:AMGN) has potential upside of 6.6% based on a current price of $67.02 and an average consensus analyst price target of $71.47.Amgen is currently above its 200-day moving average (MA) of $60.03 and should find resistance at its 50-day MA of $67.85.In the last five trading sessions, the 50-day MA has remained constant while the 200-day MA has risen 0.16%.
