Cantor Fitzgerald Keeps a Buy Rating on Amarin (AMRN)
In a report released yesterday, Louise Chen from Cantor Fitzgerald maintained a Buy rating on Amarin (AMRN), with a price target of $35. The company’s shares closed on Thursday at $18.06.
“We think the peak sales potential of Vascepa is underappreciated. Therefore, 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 TipRanks.com, Chen is a 4-star analyst with an average return of 6.9% and a 35.4% success rate. Chen covers the Healthcare sector, focusing on stocks such as Teva Pharmaceutical Industries Limited, Bausch Health Companies Inc, and Amneal Pharmaceuticals Inc.
Currently, the analyst consensus on Amarin is a Strong Buy with an average price target of $38.67.
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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 $24.26 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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