Rodman & Renshaw On Amylin: Bydureon Posts Flat NRx Market Share, While GLP-1 TRx Grow Over 5% Sequentially (AMLN)

Rodman & Renshaw On Amylin: Bydureon Posts Flat NRx Market Share, While GLP-1 TRx Grow Over 5% Sequentially (AMLN)

Amylin Pharmaceuticals, Inc. (NASDAQ:AMLN) is a biopharmaceutical company dedicated to improving lives of patients through the discovery, development and commercialization of innovative medicines. The company is particularly focused on the therapeutic potential of new peptide hormone drug candidates and the creation of novel and groundbreaking therapies for the treatment of diabetes, obesity, and other metabolic diseases.

Rodman & Renshaw has released a report on Amylin, assigning it a Market Underperform/Speculative Risk with a $22 target price.

Analyst Michael G. King writes,

"We maintain our Market Underperform rating and a $22 target. We continue to believe our skepticism is justified given the company’s history of poor execution and the most recent quarter’s fair-to-middling (in our opinion) results. We continue to believe the exenatide franchise is unwanted by those who already have a presence in the diabetes space and a sub-optimal set of assets for those companies to gain a presence in the diabetes/metabolic disease space. In our opinion, AMLN management would have done well to accept the BMY offer of $22 per share; justifying our price target on the shares."

Read the full report here.