Jefferies Maintains Buy on Amylin Pharmaceuticals

Jefferies is out with its report today on Amylin Pharmaceuticals AMLN, maintaining Buy. In a note to clients, Jefferies writes, "Today, AMLN reported that the Bydureon thorough QT (tQT) study did not show prolongation of the QT interval. We believe this positive outcome, which is in line with our expectations, will likely result in regulatory approval of Bydureon in 1Q12." At the time of posting, shares of AMLN were trading pre-market at $14.80, up 7.95% from Thursday's close.