Amylin Pharmaceuticals "outperform," target price raised - update

02/28/06 - Piper Jaffray

NEW YORK, February 28 (newratings.com) - Analysts at Piper Jaffray maintain their "outperform" rating on Amylin Pharmaceuticals (AMLN). The target price has been raised from $50 to $52.

In a research note published yesterday, the analysts mention that a recent survey on the current prescribers indicates that the adoption of the company’s Byetta drug is expected to increase by 140% over the next one year. The survey reflects that there is a possibility of Amylin Pharmaceuticals posting 4Q06 drug sales ahead of the estimates and the consensus by 25%-30%, the analysts say.