Jefferies sees potential beat for Amarin on growing Q1 Vascepa sales
Jefferies analyst Michael Yee says that despite Amarin's management cautioning to expect seasonality in Q1, scripts are up over 16% quarter over quarter, appearing to track to $75M-$80M in Q1 versus consensus of $67M and Jefferies at $79M. Historically, Vascepa sales have declined in Q1 over the past couple of years, but the analyst sees an increase this year instead due to major new CVOT data during Q4 now published in the NEJM, huge salesforce increase to 400 from 150 recently, and positive doctor channel checks suggesting reimbursement has not been much issue. Yee believes 2019 guidance of $350M appears conservative. He reiterates a Buy rating and $30 price target on the shares.