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Fly News Breaks for October 15, 2019
AMRN
Oct 15, 2019 | 05:12 EDT
Goldman Sachs analyst Paul Choi initiated coverage of Amarin with a Neutral rating and 12-month price target of $17. The shares closed Monday up 23c to $15.45. The Street's "bullish" forecasts "necessitate near-perfect commercial execution," Choi tells investors in a research note. Pending FDA approval, Amarin is poised to start promoting Vascepa, which is already approved for patients with hypertriglyceridemia, with an expanded label in a much broader population, which could drive "significant" sales growth over the next several years, contends the analyst. However, he believes that consensus expectations have set a high bar for initial uptake relative to prior cardiovascular launches. This could limit share outperformance over the next 12 months, says Choi.
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