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

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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