Piper Jaffray Maintains Overweight, $17 PT on Amylin

Piper Jaffray reiterates its Overweight rating and $17 target price on Amylin AMLN as FDA approva of Bydureon increases takeout potential. Piper Jaffray comments, "The FDA approved Bydureon for the treatment of type 2 diabetes, paving the way for either an ex-US licensing agreement or potential acquisition. In addition, Bydureon's label, Phase IIIb trial requirements and pricing strategy go a long way to address the emerging short thesis on AMLN. Bydureon's label gives patients flexibility with missed doses, as patients can up to four days late and remain compliant, a clear advantage over once daily Victoza (NovoNordisk)." AMLN closed at $12.14 a share on Friday.