Amarin Corp Plc (AMRN)

[wmartin100]

They'll do that. Current price is closer to target, so not as big an opportunity, according to them.

Good news from this is that they see Vascepa as a valuable molecule that has been largely de-risked, though I'd put peak sales considerably higher than they do.

The Citi projection of ~$3B peak sales seems low, but you can make that argument, as they do below:

"Citi analyst Joel Beatty downgraded Amarin to Neutral from Buy with a price target of $27, up from $23. The stock closed Friday up 12%, or $2.53, to $24.02. The analyst says his new price target reflects a valuation of $11.2B when assuming a diluted share count of 413M. He models for sales of $3.2B in 2024, up from $2.7B previously, reflecting increased confidence in a Vascepa label "that will allow broad use and cost effectiveness that supports taking modest price increases in future years." He believes Vascepa is an effective drug and anticipates sales accelerating significantly over the next year. However, this is now priced into the stock following the recent rally, Beatty tells investors in a research note."