Cantor Fitzgerald analyst Louise Chen reiterated a Buy rating on Amarin (NASDAQ: AMRN) today and set a price target of $10. The company’s shares closed on Friday at $2.77.
Chen commented:
“We reiterate our OW rating and think the peak sales potential of Vascepa is underappreciated. Therefore, we think upward earnings revisions to levels not reflected in consensus 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 $10.”
According to TipRanks.com, Chen has 0 stars on 0-5 star ranking scale with an average return of -5.8% and a 38.9% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Melinta Therapeutics Inc, and Aclaris Therapeutics Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Amarin with a $10 average price target.
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The company has a one-year high of $4.60 and a one-year low of $2.35. Currently, Amarin has an average volume of 2.77M.
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Amarin Corp. Plc is a biopharmaceutical company, which focuses on the commercialization and development of therapeutics for cardiovascular health. It’s 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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