Baird Comments on Amylin (AMLN) On Takeover Speculation
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Price: $30.98 --0%
Rating Summary:
3 Buy, 8 Hold, 2 Sell
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Today's Overall Ratings:
Up: 13 | Down: 22 | New: 8
Rating Summary:
3 Buy, 8 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 22 | New: 8
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Baird weighed in on Amylin Pharmaceuticals (NASDAQ: AMLN) following this morning's report the company is the target of a takeover from Bristol-Myers (NYSE: BMY).
While the firm is not suggesting chasing the stock, their first take is to "keep at least some skin in the game."
"Take-out speculation can cut both ways, and business development talks were only one element of our thesis, but big picture we've viewed AMLN's assets as better off unencumbered since November, view BMY as a potential strategic fit, and believe Bydureon's early launch is going well," the firm said. "We do not, however, think ALKS should be up on this."
The firm maintained their Outperform rating and price target of $19.
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 $15.39 yesterday.
While the firm is not suggesting chasing the stock, their first take is to "keep at least some skin in the game."
"Take-out speculation can cut both ways, and business development talks were only one element of our thesis, but big picture we've viewed AMLN's assets as better off unencumbered since November, view BMY as a potential strategic fit, and believe Bydureon's early launch is going well," the firm said. "We do not, however, think ALKS should be up on this."
The firm maintained their Outperform rating and price target of $19.
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 $15.39 yesterday.
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