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Biotech / Medical : AMLN (DIABETES DRUGS) -- Ignore unavailable to you. Want to Upgrade?

To: richardred who wrote (1787)	2/25/2004 4:45:03 PM
From: arnie h	Read Replies (1) \| Respond to of 2173

Morgan Stanley's take on AMLN today. Looks like they're happy. NEW YORK - Morgan Stanley reiterated an "overweight" rating on Amylin Pharmaceuticals (nasdaq: AMLN - news - people ) and a $26 price target. Amylin, which is focused on developing novel drugs for diabetes and metabolic disorders, reported a fourth-quarter loss of 19 cents per share, wider than Morgan Stanley's forecast of a loss of 9 cents but narrower than a consensus estimate for a loss of 22 cents. The research firm said Amylin's wider loss was primarily due to a delay in recognition until 2004 of a portion of the milestone payment from Eli Lilly (nyse: LLY - news - people ) for exenatide Phase III completion, and also to "slightly higher operating expenses." Amylin remains on track for a mid-year exenatide U.S. Food and Drug Administration New Drug Application filing and Morgan Stanley said it expects publication of AMIGO 1 data "in a major medical journal within the next several months." Amylin continues discussions with the FDA on Symlin, the company's injectable product candidate intended for the treatment of patients with type 1 diabetes and insulin-using patients with type 2 diabetes. "We believe that Symlin will ultimately reach the market and expect the stock to react positively to clarity on the regulatory strategy," Morgan Stanley said. The current weakness in Amylin shares is an opportunity to buy, Morgan Stanley said, noting that the stock "remains one of our focus names."