In a research report, Cantor analyst Chiara Russo initiates coverage on shares of Amarin Corporation plc (ADR) (NASDAQ:AMRN) with a Buy rating and a $6 price target, which implies an upside of 86% from current levels.

Russo shines light on the biotech firm’s lead product, Vascepta (icosopent ethyl), which has been approved in combination with a “proper” diet to diminish markedly steep triglyceride levels in patients.

In regards to the pipeline drug, Russo asserts, “We believe, however, that a potential positive read-out from the REDUCE-IT outcomes study expected in late 2017 could not just expand the indicated patient population of ~4M to ~74M, but also for the first time have an outcomes study that draws a straight line between triglyceride levels and cardiovascular risk, potentially changing how cardiovascular risk is managed and treated and creating a multi-billion dollar market opportunity.”

Furthermore, from the analyst’s perspective, “The main reason to own the name, in our opinion, is the potential of positive data from the REDUCE-IT outcomes study. Within the treatment of cardiovascular risk, outcomes studies hold the greatest clinical weight and drive real-world therapeutic adoption.”

Russo has every confidence Vascepa has the potential to succeed in the market, and particularly if REDUCE-IT outcomes yield positive results as the analyst expects, the label has expansion opportunities to 36 million patients suffering from high levels of triglyceride coupled with 34 million who range on borderline levels, for a collective prospective population of 74 million.

According to TipRanks, which measures analysts’ and bloggers’ success rate based on how their calls perform, four-star analyst Chiara Russo is ranked #815 out of 4,193 analysts. Russo has a 52% success rate and realizes 4.9% in her yearly returns. When recommending AMRN, Russo yields 0.0% in average profits on the stock.

TipRanks analytics exhibit AMRN as a Strong Buy. Based on 3 analysts polled in the last 3 months, 100% rate a Buy on AMRN. The 12-month price target stands at $8.00, marking a 149% upside from where the shares last closed.