Cantor Fitzgerald analyst Louise Chen says that as expected, the omega-3 arms of the Ascend trial, sponsored by Oxford University and British Heart Foundation, did not demonstrate a reduction of first serious vascular events with the therapy of omega-3 fatty acid supplementation studied. The analyst does not think this means that Amarin's Reduce-It study will not show a benefit for patients. Because Ascend was expected to be negative, an overhang has now been removed ahead of the Reduce-It readout, Chen tells investors in a research note. She thinks now is a good time to take another look at Amarin shares given the upcoming potential catalyst. Chen has an Overweight rating on Amarin with a $10 price target. This post corrects the headline as the Ascend study was not run by Amarin as previously stated.