Merrill Lynch maintains Amylin at sell

Amylin Pharmaceuticals Inc. was maintained by Merrill Lynch analyst Thomas McGahren at a sell rating after Merrill Lynch raised its third-quarter estimates for Byetta sales to $21 million from $14 million and maintained Symlin estimates of $4 million. Merrill Lynch updated its model for the company pending preliminary third-quarter results scheduled for release after the market closes Wednesday. Merrill Lynch believes Byetta, if commercialized, will find a place in the treatment regimen for type 2 diabetes, but current stock levels dictate the sell rating. Shares of the San Diego-based pharmaceutical company were up $0.43, or 1.19%, at $36.48 on volume of 2,034,332 shares versus the three-month running average of 3,692,710 shares.

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