Merrill maintains Amylin at neutral

Amylin Pharmaceuticals Inc. was kept at a neutral rating by Merrill Lynch analyst Tom McGahren after the company's strong pre-announced Byetta sales of $99 million. Amylin's second-quarter loss per share of $0.38 was narrower than Merrill's prior estimate of a loss per share of $0.52 and consensus of a $0.46 loss per share. Merrill raised its Byetta sales estimates to $443 million from $372 million in 2006 and to $725 million from $596 million in 2007. Shares of the San Diego-based biopharmaceutical company were up $3.28, or 7.06%, at $49.72 on volume of 3,644,547 shares versus the three-month running average of 2,791,320 shares. (Nasdaq: AMLN)

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