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Fly News Breaks for August 14, 2019
AMRN
Aug 14, 2019 | 07:27 EDT
SVB Leerink analyst Ami Fadia initiated coverage of Amarin with an Outperform rating and $26 price target. She sees the recent 20% pullback in the stock following news that the FDA will hold an advisory committee meeting to review the supplemental new drug application for Vascepa as offering a good entry point, as she believes that Vascepa's label expansion will be approved by the agency. If approved, she thinks Vascepa sales can grow to over $4B in the U.S. at their peak. Fadia added that the November 14 FDA committee meeting and PDUFA date, which she thinks is likely to be rescheduled for late December, are two catalysts that could drive greater than 20% upside in Amarin shares.
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