Piper Jaffray Maintains Overweight on Amylin Pharmaceuticals

Piper Jaffray is out with its report today on Amylin Pharmaceuticals AMLN, maintaining Overweight after ECG data was just released from the DURATION 1 Phase III trial of Bydureon. In a note to clients, Piper Jaffray writes, "We believe this ECG data could mitigate concerns related to potential QT prolongation with Bydureon. This combined with data from the thorough QT study of exenatide, which we now expect to be released in July, could reduce regulatory risk and enable AMLN shares to trade closer to our $20 price target." Piper Jaffray maintains Overweight on AMLN. Shares of AMLN closed Friday at $11.83.