H.C. Wainwright Dives In on Amarin Corporation plc (ADR) (AMRN) as REDUCE-IT Topline Data Within Sight


As REDUCE-IT continues to track to expected read-outs in early 2018, H.C. Wainwright analyst Andrew Fein weighs in on Amarin Corporation plc (ADR) (NASDAQ:AMRN), anticipating a revival in investor interest and share value through 2017.

Fein wrote, “This is the year when our bull thesis on Amarin is likely to start coming into play. Now, as we reach the final year of the six-year REDUCE-IT outcome study (last cardiovascular event set to occur near YE17), it is worthwhile to highlight again the potential drivers of value in the year ahead: (1) continued Vascepa growth in TRx and NRx, expected to put company in cash flow-positive territory this year; (2) REDUCE-IT second interim readout on tap for before 3Q17 (see our analysis below); and (3) REDUCE-IT topline data in 2018 (we expect a statistically significant win).”

“We believe that ahead of and through these catalysts, and in anticipation of REDUCE-IT topline, Amarin shares are likely to start trending upward, as old investors familiar with the story finally start re-engaging, following their outflow after the disappointing ANCHOR AdCom in Oct 2013 and their long wait for value-driving developments since. We advise our audience to position ahead of this potential revival trend,” the analyst concluded.

As such, Fein reiterates a Buy rating on shares of Amarin, with a price target of $10, which represents a potential upside of 249% from where the stock is currently trading.

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Andrew Fein has a yearly average return of -2.0% and a 38% success rate. Fein has a 36.5% average return when recommending AMRN, and is ranked #3750 out of 4359 analysts.

Out of the 5 analysts polled in the past 12 months, 4 rate Amarin stock a Buy, while 1 rates the stock a Hold. With a return potential of 122.5%, the stock’s consensus target price stands at $6.38.

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