Merrill moves Amylin to neutral

Amylin Pharmaceuticals Inc. was moved to a neutral rating from sell by Merrill Lynch analyst Thomas McGahren, mainly on valuation as the stock is down over 20% in the last few weeks. Merrill remains cautious on the stock as optimism over strong Byetta sales is offset by the company's uncertainty about the clinical trials that will be required by the FDA to gain approval of exenatide LAR, the once-weekly version of Byetta, for type 2 diabetes. Shares of the San Diego pharmaceutical company were down $0.21, or 0.56%, at $36.99 on volume of 1,589,435 shares versus the three-month running average of 2,060,960 shares. (Nasdaq: AMLN)

© 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.