Analyst Sees Increased Chance of Amylin (AMLN) Takeover Amid Bydureon Approval

January 30, 2012 2:52 PM EST Send to a Friend
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Price: $30.98 --0%

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    3 Buy, 8 Hold, 4 Sell

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    Up: 29 | Down: 28 | New: 24
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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.


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Comments

lot less pain for diabetic patients.
on 2012-02-01 13:21:26
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Instead of daily injections this drug allows once a week injection to diabetic patients. That is a great relief for them.

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