Cantor Fitzgerald analyst Louise Chen maintained a Buy rating on Amarin (AMRN) today and set a price target of $35. The company’s shares opened today at $16.58.
Chen commented:
“: We surveyed 50 physicians (36% PCPs, 32% endocrinologists and 32% cardiologists) regarding AMRN’s Vascepa. The results underscore our belief that the market opportunity is underappreciated. Therefore, we are reiterating our OW rating and 12-mo. PT of $35 ahead of what we expect to be an acceleration in the uptake of Vascepa in 2019+. We think the REDUCE-IT data are just the beginning of a new paradigm to treat CV disease. The market is a lot bigger than anticipated, in our view. Before going generic, statins sold $34B+/year. Even the highest estimates do not assume anything close to this for Vascepa and omega-3s.”
According to TipRanks.com, Chen is a 4-star analyst with an average return of 4.0% and a 34.0% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Amneal Pharmaceuticals Inc, and Aridis Pharmaceuticals Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Amarin with a $30.20 average price target, representing an 82.1% upside. In a report issued on January 17, H.C. Wainwright also maintained a Buy rating on the stock with a $51 price target.
See today’s analyst top recommended stocks >>
The company has a one-year high of $23.34 and a one-year low of $2.35. Currently, Amarin has an average volume of 10.35M.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
Read More on AMRN:
