Amarin Corp Plc (AMRN)

[BioChica]

Christine Brown-July 18, 2018, 4:44 PM EDT


Cantor Fitzgerald analyst Louise Chen assigned a Buy rating to Amarin (NASDAQ: AMRN) today and set a price target of $10. The company’s shares opened today at $2.86, close to its 52-week low of $2.66.

Chen commented:

“We reaffirm our OW rating and believe that a positive read-out from the REDUCE-IT outcomes study, expected in 3Q18, will expand the indicated patient population of ~4M to ~75M for Vascepa, creating a multi-billion-dollar market opportunity for AMRN. Valuation Summary We continue to use a blend of DCF and multiples (EV/EBITDA) analysis to get to our 12-month price target of $10.”