Citi Upgrades Amylin Pharmaceuticals (AMLN) to Hold
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Citi upgrades Amylin Pharmaceuticals Inc (Nasdaq: AMLN) from Sell to Hold. Price target lowered from $21 to $17.
Citi analyst says, "The risk/reward is moderating but the only upside occurs if LAR is approved and Novo's lira is not ($41; 15% probability). Base case suggests the stock is fairly valued at $18 (50% probability). Worst case, if LAR gets rejected and Lira approved, implies a value of $5/share (25% probability)."
Amylin Pharmaceuticals, Inc. is a biopharmaceutical company engaged in the discovery, development and commercialization of drug candidates for the treatment of diabetes, obesity and other diseases.
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