.jpg "Amarin (NASDAQ: AMRN)")
In a report released today, Louise Chen from Cantor Fitzgerald maintained a Buy rating on Amarin (NASDAQ: AMRN), with a price target of $10. The company’s shares closed yesterday at $3.48.
Chen observed:
“We reaffirm our OW rating and believe that a positive read-out from the REDUCE- IT outcomes study, expected in 3Q18, will expand the indicated patient population of ~4M to ~75M for Vascepa, creating a multi-billion-dollar market opportunity for AMRN. 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 -4.5% and a 40.6% success rate. Chen covers the Healthcare sector, focusing on stocks such as Aclaris Therapeutics Inc, Paratek Pharmaceuticals, and Spero Therapeutics Inc.
Amarin has an analyst consensus of Strong Buy, with a price target consensus of $9.
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Based on Amarin’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $24.26 million. In comparison, last year the company had a GAAP net loss of $20.03 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.
