Credit Suisse reinstates its coverage on Amylin Pharmaceuticals AMLN with a rating of Outperform and a $22 price target following the removal of equity restriction.
Credit Suisse says, "Despite the stock's 55% move YTD, largely related to the approval of Bydureon, we see several factors offering upside to AMLN: 1) Bydureon sales
prospects are greater than consensus, 2) Takeout prospects may offer downside support and/or even upside, and 3) Financial situation is manageable."
AMLN closed at $17.61 a share on Wednesday.
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