Amarin Corp Plc (AMRN)

[eightisenough]

I think we are moving down b/c of this: Amarin price target raised to $8 at Oppenheimer following label expansion

Oppenheimer analyst Leland Gershell raised his price target for Amarin to $8 from $7 following Friday's FDA approval of Vascepa to reduce cardiovascular event risk that came roughly two weeks ahead of its December 28 PDUFA date. In a research note to investors, Gershell says that while this is long-awaited for Amarin, he thinks constraints on the new indication appear to imply a target patient number of just 5M-8M, which he says is low compared to that anticipated by bulls. He maintains an Underperform rating, saying he is concerned that Street projections overestimate Amarin's profitability, especially in the out-years, the sizable M&A component of current valuation is at risk, and says investors will give increasing consideration to emerging competition within the prescription omega-3 class.

Read more at:
https://thefly.com/landingPageNews.php?id=3007123