Jefferies Raises Numbers on Amylin Pharmaceuticals (AMLN) On Upside to Bydureon Sales
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Price: $30.98 --0%
Rating Summary:
3 Buy, 8 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
3 Buy, 8 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Jefferies raised estiamtes and its price target on Amylin Pharmaceuticals (NASDAQ: AMLN) from $30 to $32 saying IMS data supports upside to 2012 Bydureon sales.
"Our prior analyses suggest that the first year of sales can be extrapolated from the first 5 weeks of a drug launch, a critical point just crossed for Bydureon. Linear extrapolation of IMS data lead us to raise our 2012 sales estimate from $118m to $175m, well above Street consensus of $128m. We are raising our PT to $32 as we believe the Street has underestimated the potential of the Byetta/Bydureon franchise."
FY12 EPS goes from ($0.96) to ($0.77) and FY13 from ($1.21) to ($0.59).
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 $23.88 yesterday.
"Our prior analyses suggest that the first year of sales can be extrapolated from the first 5 weeks of a drug launch, a critical point just crossed for Bydureon. Linear extrapolation of IMS data lead us to raise our 2012 sales estimate from $118m to $175m, well above Street consensus of $128m. We are raising our PT to $32 as we believe the Street has underestimated the potential of the Byetta/Bydureon franchise."
FY12 EPS goes from ($0.96) to ($0.77) and FY13 from ($1.21) to ($0.59).
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 $23.88 yesterday.
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