Jefferies Says Amylin Pharmaceuticals (AMLN) Undervalued With Pending Ex-US Partnership for Exenatide

Jefferies made positive comments Amylin Pharmaceuticals (NASDAQ: AMLN) Wednesday, saying the street is underestimating the value of ex-US right to Bydureon/Byetta.

The firm comments, "AMLN is currently seeking a new ex-US partner for its exenatide franchise. We value these international rights at $1.3b, which we believe provides AMLN with significantly greater financial and strategic flexibility than the Street prices into shares."

The firm maintained their Buy rating and $25 price target.

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 $11.43 yesterday.

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