UPDATE: Piper Jaffray Lowers Price Target on Amylin to $17

According to Piper Jaffray, Amylin AMLN price target is lowered to $17. Piper Jaffray said that Amylin and Eli Lilly have terminated their partnership for exenatide with Amylin regaining worldwide rights, an unlikely result of ongoing litigation between the companies. “We are reducing our price target to $17 from $19, despite higher 2015 EPS, as we assume a higher discount rate for Amylin taking commercial responsibility.” Amylin closed yesterday at $9.73