Amarin Corp Plc (AMRN)

[xblkbk]

Former Roth analyst, who moved to Piper, initiates coverage.

Starting with Amarin (AMRN, Overweight, $21 PT) and its omega-3 drug Vascepa (approved for CV-risk reduction for ASCVD patients in Dec. 2019), we walk through why its ongoing appeal strategy vs. generics (oral arguments on Sep. 2) gives it high POS of reversal, in our view, and how the EU HTG market (80M with CVD) represents the next big commercial opportunity with potential early 2021 EMA approval