Amarin Corp Plc (AMRN)

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Peak sales of Amarin's Vascepa being underappreciated, says Cantor Fitzgerald The FDA's approved patient population of Amarin's Vascepa is in-line with Street expectations, Cantor Fitzgerald analyst Louise Chen tells investors in a research note. The agency on Friday approved the use of Vascepa as an adjunctive therapy to reduce the risk of cardiovascular events among adults with elevated triglyceride levels of 150 milligrams per deciliter or higher. Vascepa is the first FDA approved drug to reduce CV risk among patients with elevated triglyceride levels as an add-on to maximally tolerated statin therapy, Chen points out. The analyst thinks the peak sales potential of Vascepa is underappreciated. Upward earnings revisions to levels not reflected in consensus expectations should drive Amarin shares higher, contends Chen. The analyst affirms an Overweight rating on the stock with a $35 price target. Amarin in premarket trading is up 10% to $26.45.

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