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AMRN

Amarin

$14.83

0.53 (3.71%)

07:09
08/15/19
08/15
07:09
08/15/19
07:09

Amarin panel not due to negative found by FDA, says Cantor Fitzgerald

The panel meeting for Amarin's Vascepa is not being held because the FDA found something negative in its review, Cantor Fitzgerald analyst Louise Chen tells investors in a research note. Rather, the analyst thinks the FDA may be hosting an AdCom for Vascepa "because the drug will be used in a very large patient population." Further, Amarin has been preparing, and continues to prepare, for the panel, Chen contends. In addition, she cautions against reading the tea leaves on the FDA's assignment and cancellation of AdCom meetings based on some historical examples. The analyst reiterates an Overweight rating on Amarin with a $35 price target. Chen still thinks the peak sales potential of Vascepa is underappreciated at current share levels. The stock closed yesterday up 53c to $14.82.

  • 15

    Aug

  • 28

    Sep

AMRN Amarin
$14.83

0.53 (3.71%)

08/09/19
JEFF
08/09/19
NO CHANGE
Target $30
JEFF
Buy
Amarin selloff on FDA panel a buying opportunity, says Jefferies
Jefferies analyst Michael Yee views today's selloff in shares of Amarin as a buying opportunity. It is reasonable to have a drug this big discussed in public forum, Yee tells investors in a research note. While the FDA panel brings "some new risk," the corresponding stock selloff more than reflecting this, says Yee. He sees a "buying opportunity since approval is very likely." Yee reiterates a Buy rating on Amarin with a $30 price target.
08/13/19
ROTH
08/13/19
NO CHANGE
Target $31
ROTH
Buy
Roth confident Amarin's Vascepa will be 'well-received' by FDA panel
Roth Capital analyst Yasmeen Rahimi noted that the FDA's upcoming Advisory Committee reviewing the sNDA for Amarin's (AMRN) Vascepa will include ten voting and one non-voting committee members, including five endocrinologists, three cardiologists, a biostatistician, a pharmacoepidemiologist, a consumer representative and a non-voting nephrologist. Given that the American Diabetes Association has included Vascepa for CV risk reduction in its recommended treatment guidelines, and the panel has a majority of endocrinologists, she believes that "the committee is primed for a positive reception of Vascepa," Rahimi tells investors. Additionally, the AdCom Chairperson, Dr. Kenneth Burman, previously voted in favor of Novo Nordisk's (NVO) insulin degludec and insulin degludec/aspart when chairing a prior AdCom. Rahimi reads this as a strong sign that he is receptive to new therapies and as a positive for Vascepa's review, she said. The analyst keeps a Buy rating on Amarin shares with a price target of $31.
08/14/19
LEER
08/14/19
INITIATION
Target $26
LEER
Outperform
Amarin initiated with an Outperform at SVB Leerink
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.
08/14/19
08/14/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Tenet (THC) reinstated with a Neutral at Goldman Sachs. 2. WWE (WWE) initiated with a Buy at Rosenblatt. 3. iHeartMedia (IHRT) initiated with a Buy at BofA/Merrill. 4. Fastly (FSLY) initiated with an Overweight at Piper Jaffray. 5. Amarin (AMRN) initiated with an Outperform at SVB Leerink. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

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PCG

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LOW

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, HD

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$NSD

NASDAQ Market Internals

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GOOG

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APAM

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ARMK

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MYOV

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NM

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REPYY

Repsol

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MLM

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