Amylin – Strange Reaction to Earnings
Diabetic Investor does not like it when we’re wrong but this is one time we’re glad we didn’t get something right. Yesterday we speculated that Amylin (NASADQ: AMLN) shares would sell off today based on their earnings report. Although Diabetic Investor was not disappointed we thought the Street would be as Byetta sales missed estimates and the call didn’t go that well.
Based on early trading shares are already up over $2 on above average volume. Frankly we are clueless as to why. There are several possible explanations. It could be the Street is beginning to shift focus from Byetta to Byetta LAR. Perhaps the Street was as surprised as Diabetic Investor was over Symlin sales. Or maybe they see the possibility of buyout becoming more of a reality. Whatever the reason, we really don’t care as Amylin is one fine company worthy of investor’s interest.