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Fly News Breaks for January 8, 2020
UNH, AMRN
Jan 8, 2020 | 13:06 EDT
Citi analyst Joel Beatty attributes the selloff today in shares of Amarin (AMRN) to reports stating that UnitedHealth (UNH) dropped Vascepa from its preferred list for 2020. However, after comparing 2019 and 2020 documents for a few UnitedHealth plans, Beatty did not find any examples of changes in tiering or other preferential status for Vascepa. Payers likely haven't yet considered the new "game-changing" cardiovascular risk-reduction label for Vascepa that was granted in December, which leaves Vascepa with no relevant competitors, Beatty tells investors in an intraday research note. As a result, the analyst, who keeps a Neutral rating on Amarin, views today's share pullback as unwarranted. The move creates a lower entry point for those investors looking to buy the stock, says Beatty. Amarin in afternoon trading is down 6%, or $1.15, to $18.93.
News For AMRN;UNH From the Last 2 Days
UNH
Mar 28, 2024 | 15:22 EDT
What has Wall Street been buzzing about this week? Here are the top 5 Bu-y calls and the top 5 Sell calls made by Wall Street’s best analysts during the week of March 25-28. Find all top-rated... To see the rest of the story go to thefly.com. See Story Here
UNH
Mar 28, 2024 | 06:51 EDT
BofA downgraded Molina Healthcare (MOH) to Underperform from Neutral with a $439 price target. The firm, which is concerned that Molina and the Medicaid industry more broadly are likely to face rate pressure after a period of elevated margins, sees a less attractive risk/reward for Molina compared to other insurers the firm covers, the analyst tells investors. Molina is now trading roughly at parity with the firm's top pick in the space, UnitedHealth (UNH), compared to a 22% discount that had been seen over the last five years, helping to underscore the firm's view that "sentiment for Medicaid is nearing a top just at a time when Medicare is reaching a bottom," the analyst added.