JPMorgan Raises Amylin (AMLN) to Overweight Following Taspo Delay

June 18, 2010 9:30 AM EDT
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Price: $30.98 --0%

Rating Summary:
    3 Buy, 8 Hold, 4 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 24 | Down: 17 | New: 14
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An analyst at JPMorgan upgraded shares of Amylin (Nasdaq: AMLN) from Neutral to Overweight today following news that Roche has delayed the development of its experimental diabetes drug taspoglutide by at least 12 to 18 months. The firm also boosted its price target on Amylin shares from $20 to $24.

Shares of Amylin have jumped nearly 14% in this morning's pre-market session. With the stock last trading around $18.76, JPMorgan's new price target suggests potential upside of exactly 28%.

Elsewhere on the Street, a Piper Jaffray analyst said that the Taspo delay is a positive for Amylin.

Check out our Analyst Ratings page to track all the upgrades/downgrades on shares of Amylin following the Taspo news.

Amylin Pharmaceuticals, Inc. engages in the discovery, development, and commercialization of drug candidates for the treatment of diabetes, obesity, and other diseases.

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