In a report released today, Louise Chen from Cantor Fitzgerald reiterated a Buy rating on Amarin (AMRN), with a price target of $35. The company’s shares closed yesterday at $17.29.
Chen wrote:
“. We reiterate our Overweight rating and 12-month price target of $35 on shares of AMRN. We continue to think that the peak sales opportunity for Vascepa, post positive REDUCE-IT results, is still underappreciated. Therefore, it is a good time to take another look at AMRN’s stock ahead of some potentially positive catalysts, which could drive the shares higher.”
According to TipRanks.com, Chen is a 4-star analyst with an average return of 8.9% and a 40.9% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Aridis Pharmaceuticals Inc, and Amneal Pharmaceuticals Inc.
Currently, the analyst consensus on Amarin is a Strong Buy with an average price target of $34.80.
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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 17.99M.
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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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