Jefferies Comments on Amylin Pharmaceuticals (AMLN) Following EASD Diabetes Meeting
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Price: $30.98 --0%
Rating Summary:
3 Buy, 8 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 5 | New: 17
Rating Summary:
3 Buy, 8 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 5 | New: 17
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Jefferies is maintaining its Buy rating and $24 price target on shares of Amylin Pharmaceuticals (NASDAQ: AMLN) following the EASD diabetes meeting.
The firm notes that after talking with 14 physicians, feed back was mixed with half preferring Bydureon and the other half recommending Novo Nordisk's Victoza.
At the meeting, nine of the physicians stated that they increased their usage of GLP-1s, which the firm notes is not surprising given the launch of Victoza, and plan on increasing the usage over the next twelve months. Jefferies is encouraged by its feedback on the usage of GLP-1s and forecasts continued growth through the launch of Bydureon in 2012.
Jefferies reports, "When asked about their thoughts on Bydureon vs. Victoza, two physicians (both from the U.S.) were confident in their preference of Bydureon over Victoza. Two other physicians said they might choose Victoza over Bydureon when available in their countries (Ireland and France), but neither were as confident in their response as the physicians who preferred Bydureon....three of those who were unsure said they would have preferred Bydureon until they saw the presentation on DURATION-6..One physician noted that the DURATION-6 data was more of an outlier"
Three of the physicians reported that the needle size and reconstitution needed for Bydureon has raised concerns while an equal amount of physicians stated that the needle size was not an issue.
Jefferies believes that investors have not factored in the potential of Bydureon and feels that shares and expectations are well below their possible potential.
For more ratings news on Amylin Pharmaceuticals click here and for the rating history of Amylin Pharmaceuticals click here.
Shares of Amylin Pharmaceuticals closed at $11.09 yesterday.
The firm notes that after talking with 14 physicians, feed back was mixed with half preferring Bydureon and the other half recommending Novo Nordisk's Victoza.
At the meeting, nine of the physicians stated that they increased their usage of GLP-1s, which the firm notes is not surprising given the launch of Victoza, and plan on increasing the usage over the next twelve months. Jefferies is encouraged by its feedback on the usage of GLP-1s and forecasts continued growth through the launch of Bydureon in 2012.
Jefferies reports, "When asked about their thoughts on Bydureon vs. Victoza, two physicians (both from the U.S.) were confident in their preference of Bydureon over Victoza. Two other physicians said they might choose Victoza over Bydureon when available in their countries (Ireland and France), but neither were as confident in their response as the physicians who preferred Bydureon....three of those who were unsure said they would have preferred Bydureon until they saw the presentation on DURATION-6..One physician noted that the DURATION-6 data was more of an outlier"
Three of the physicians reported that the needle size and reconstitution needed for Bydureon has raised concerns while an equal amount of physicians stated that the needle size was not an issue.
Jefferies believes that investors have not factored in the potential of Bydureon and feels that shares and expectations are well below their possible potential.
For more ratings news on Amylin Pharmaceuticals click here and for the rating history of Amylin Pharmaceuticals click here.
Shares of Amylin Pharmaceuticals closed at $11.09 yesterday.
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