Amarin (AMRN) Received its Third Buy in a Row

After Jefferies and H.C. Wainwright gave Amarin (NASDAQ: AMRN) a Buy rating last month, the company received another Buy, this time from Cantor Fitzgerald. Analyst Louise Chen reiterated a Buy rating on Amarin yesterday and set a price target of $35. The company’s shares closed yesterday at $18.08.

Chen said:

“We reiterate our OW rating on AMRN and think the peak sales potential of Vascepa is underappreciated. Therefore, we think upward earnings revisions to levels not reflected in FactSet consensus expectations should drive AMRN shares higher. Valuation Summary We continue to use a blend of DCF and multiples (EV/EBITDA) analysis to get to our 12-month price target of $35.”

According to, Chen is a 5-star analyst with an average return of 12.9% and a 45.6% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Aridis Pharmaceuticals Inc, and Amneal Pharmaceuticals Inc.

Amarin has an analyst consensus of Strong Buy, with a price target consensus of $32.75, which is an 81.1% upside from current levels. In a report issued on March 21, Stifel Nicolaus also initiated coverage with a Buy rating on the stock with a $27 price target.

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Based on Amarin’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $33.39 million. In comparison, last year the company had a GAAP net loss of $22.77 million.

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Amarin Corp. Plc is a biopharmaceutical company, which focuses on the commercialization and development of therapeutics for cardiovascular health. Its product development program leverages its experience in lipid science and the potential therapeutic benefits of polyunsaturated fatty acids. It has developed and markets Vascepa capsules through wholesale.

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