Analyst Sees Increased Chance of Amylin (AMLN) Takeover Amid Bydureon Approval
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Price: $30.98 --0%
Rating Summary:
3 Buy, 8 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
Rating Summary:
3 Buy, 8 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
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Piper Jaffray's Ian Somaiya issued a note Monday morning suggesting FDA approval of Bydureon increases chances for a takeover of Amylin (Nasdaq: AMLN).
Amylin shares are up almost 17 percent this afternoon following the news. The stock last traded at $14.20.
Somaiya believes Amylin could be worth $33 per share based on an average multiple; applying a historic multiple which assumes peak sales gets the value into the $37-$49 per share range.
Piper Jaffray maintains an Overweight rating and $17 price target on shares of Amylin.
Track all the market-moving analyst calls on shares of Amylin with our Analyst Ratings page.
Amylin shares are up almost 17 percent this afternoon following the news. The stock last traded at $14.20.
Somaiya believes Amylin could be worth $33 per share based on an average multiple; applying a historic multiple which assumes peak sales gets the value into the $37-$49 per share range.
Piper Jaffray maintains an Overweight rating and $17 price target on shares of Amylin.
Track all the market-moving analyst calls on shares of Amylin with our Analyst Ratings page.
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