Cantor Fitzgerald Maintains a Buy Rating on Amarin (AMRN)
Cantor Fitzgerald analyst Louise Chen maintained a Buy rating on Amarin (NASDAQ: AMRN) today and set a price target of $10. The company’s shares opened today at $3.21.
“We think the peak sales potential of Vascepa is under appreciated. Therefore, upwards 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 currently no stars on a ranking scale of 0-5 stars, with an average return of -6.2% and a 40.7% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Aridis Pharmaceuticals Inc, and Melinta Therapeutics Inc.
Amarin has an analyst consensus of Moderate Buy, with a price target consensus of $10.
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Based on Amarin’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $33.79 million. In comparison, last year the company had a GAAP net loss of $13.91 million.
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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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