Amylin Shares Active on Monday; Stock Down 4%

Shares of Amylin Pharmaceuticals

are pulling back on Monday. At last check, the stock had lost 4.29% to $23.89 on heavy volume. Last week, AMLN soared on news that the company had rejected a $22 per share buyout offer from Bristol Myers Squibb

. More than 3.6 million AMLN shares have already traded hands on the session. Traders will want to continue to keep AMLN on their radar as the company is in play and a higher offer from either BMY or a competing deal from a company such as AstraZeneca

could materialize in the coming weeks and months. Amylin Pharmaceuticals, Inc. is a biopharmaceutical company focusing on the diabetes and other metabolic diseases through the discovery, development and commercialization of medicines. The company is marketing two drugs to treat diabetes, Byetta and Bydureon.