Baird Comments on Amylin (AMLN) On Takeover Speculation

March 28, 2012 11:06 AM EDT
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Baird weighed in on Amylin Pharmaceuticals (NASDAQ: AMLN) following this morning's report the company is the target of a takeover from Bristol-Myers (NYSE: BMY).

While the firm is not suggesting chasing the stock, their first take is to "keep at least some skin in the game."

"Take-out speculation can cut both ways, and business development talks were only one element of our thesis, but big picture we've viewed AMLN's assets as better off unencumbered since November, view BMY as a potential strategic fit, and believe Bydureon's early launch is going well," the firm said. "We do not, however, think ALKS should be up on this."

The firm maintained their Outperform rating and price target of $19.

For an analyst ratings summary and ratings history on Amylin Pharmaceuticals click here. For more ratings news on Amylin Pharmaceuticals click here.

Shares of Amylin Pharmaceuticals closed at $15.39 yesterday.

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Robert W Baird


Amylin Takover - May culminate through CVR issue to shareholders
Vishal on 2012-04-09 07:39:10
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Exenatide franchise is the key lever of Amylin’s valuation. To get the buyer and seller reconcile on the valuation , is an onerous task due to the wide gap in the peak sales estimate that one can build for a product like Bydureon. One might sound equally convincing on a $6billion peak sales estimate as someone else estimating $1billion because of the vast variety of forces that could impact the peak sales. For the large pharma companies, both global and Japanese, Cash now is a scarce asset, and with patent expiry pressure at its peak, it is unlikely that they would ris

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