Amylin downgraded to sell: Merrill

Amylin Pharmaceuticals Inc. was downgraded to sell from neutral by Merrill Lynch analysts Thomas McGahren, Eric Ende and David Munno after recent Phase II data for the company's Exenatide LAR for diabetes and short covering had produced a rise in its stock. The analysts said they believe Amylin stock pricing incorporates a 100% probability of the drug's launch in addition to peak sales of $1 billion and peak Byetta sales of $500 million - assumptions they say are a stretch. Amylin stock closed down $1.43, or 4.45%, at $30.73 on Friday with volume of 3,424,194 shares compared to a three-month trailing average of 4,502,800 shares.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.