Cantor Fitzgerald analyst Louise Chen maintained a Buy rating on Amarin (AMRN) yesterday and set a price target of $35. The company’s shares opened today at $12.63.
Chen noted:
“. We reaffirm our OW rating and $35 12-month price target. On 1/4/19 AMC, AMRN provided a business update, including a preliminary estimate of 2018 revenues as well as 2019 revenue and spending guidance. The sentiment from investors post the financial update from AMRN has been negative given that 2019 sales guidance came in below expectations, but we think the Street should focus more on the peak sales potential of Vascepa than on near-term sales, which are hard to forecast, given several moving parts (timing of increased sales promotion, potential DTC campaign, label expansion, EU partnership, etc.). One good comp for Vascepa is Jardiance.”
According to TipRanks.com, Chen is a 1-star analyst with an average return of -0.7% and a 31.7% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Amneal Pharmaceuticals Inc, and Aridis Pharmaceuticals Inc.
Currently, the analyst consensus on Amarin is a Strong Buy with an average price target of $31.80, implying a 151.8% upside from current levels. In a report released today, SunTrust Robinson also maintained a Buy rating on the stock with a $15 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 10.87M.
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:
