Amarin Corporation plc (ADR) (NASDAQ:AMRN) announced that starting Michael W. Kalb has joined its senior management team as senior vice president and chief financial officer. A seasoned financial executive, Mr. Kalb brings over 20 years of international financial operations and accounting advisory experience.
“We are delighted to welcome Mike to our team and look forward to leveraging his extensive experience and leadership capabilities as we continue to grow our commercial business and work toward the completion of our cardiovascular outcomes study,” commented John F. Thero, president and chief executive officer of Amarin. “Mike’s broad, global business and pharmaceutical experience will further strengthen our executive, financial and operational capabilities as we continue our commercial growth and work toward expanding our business in the future.”
Mr. Kalb joins Amarin from Taro Pharmaceutical Industries, Ltd., a publicly-traded, multinational, science-based pharmaceutical company where he served as chief financial officer and chief accounting officer. Prior to joining Taro, Mr. Kalb was a director in the Accounting and Financial Consulting Group of Huron Consulting Group Inc. Mr. Kalb’s experience also includes over ten years at Ernst & Young, LLP within its Transaction Advisory Services Group and Audit and Assurance Services Group. He is a certified public accountant.
Mr. Kalb added, “I am very happy to become a part of the Amarin team. The company has made great progress recently in increasing awareness of Vascepa® and its clinical profile. I am excited both by Vascepa’s revenue growth and its large potential upside and look forward to working with the Amarin team to help build upon the company’s success and drive shareholder value.” (Original Source)
Shares of Amarin closed yesterday at $2.17, up $0.06 or 2.84%. AMRN has a 1-year high of $2.59 and a 1-year low of $1.24. The stock’s 50-day moving average is $1.98 and its 200-day moving average is $1.70.
On the ratings front, Amarin has been the subject of a number of recent research reports. In a report issued on June 7, Jefferies Co. analyst Hugo Ong reiterated a Buy rating on AMRN, with a price target of $3.50, which implies an upside of 61.3% from current levels. Separately, on May 27, Oppenheimer’s Carlos Solorzano assigned a Hold rating to the stock .
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Hugo Ong and Carlos Solorzano have a total average return of -13.9% and 2.0% respectively. Ong has a success rate of 15.4% and is ranked #3545 out of 3990 analysts, while Solorzano has a success rate of 45.5% and is ranked #1918.
Amarin Corp. Plc is a biopharmaceutical company, which engages in the commercialization and development of therapeutics to improve cardiovascular health. Its product, Vascepa capsules, is use as an adjunct to diet to reduce triglyceride levels in adult patients with severe hypertriglyceridemia.