Analyst Jon LeCroy of Hapoalim Securities reiterates his "buy" rating on Amylin Pharmaceuticals AMLN. The target price for AMLN is set to $22.
According to Hapoalim Securities, “Amylin presented data from the DURATION 2 and 5 trials that, in our view, support both the superiority and the approvability of Bydureon. In DURATION 2 Bydureon handily beat Actos or Januvia and in DURATION 5 Bydureon showed superiority to Byetta. In October, we expect the FDA to approve Bydureon with a similar Black Box label to Victoza and in the next several years, we would expect Eli Lilly LLY to acquire Amylin.”
Hapoalim Securities expects Amylin shares to suffer if “the approval of Bydureon is a drawn-out approval process at the FDA, or if Amylin is unable to get approval for Bydureon.”
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