UPDATE: Deutsche Bank Reiterates Hold, $14 PT on Amylin Pharmaceuticals on Uncertainty for Takeout Bid

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Deutsche Bank maintains its Hold rating and $14 price target on Amylin Pharmaceuticals (NASDAQ: AMLN) as takeout offer from Bristol Myers Squibb develops. Deutsche Bank comments, "Based on weekly IMS TRx, we see following trends: 1) GLP-1 market continues to grow, 2) Bydureon taking share from Byetta, not Victoza & 3) Bydureon growing but behind Victoza launch pace. …We note AMLN shares are trading well above our TP of $14 due to an unconfirmed takeout bid from Bristol Myers Squibb of $22 (Source: Bloomberg Finance LP). We are maintaining Hold rating given the deal isstill unconfirmed and shares can pull back if bidder leaves the table."AMLN closed at $27.96 on Friday.

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