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AMRN

Amarin

$22.76

-1.23 (-5.13%)

12:15
11/18/19
11/18
12:15
11/18/19
12:15

Amarin slides after EVAPORATE study misses primary endpoint

An investigator-sponsored study of Amarin's Vascepa, called "EVAPORATE," did not hit the primary endpoint for statistical significance on low attenuated plaque, it was reported over the weekend at the American Heart Association's Scientific Sessions 2019 held in Philadelphia, Pennsylvania. The study, which evaluated 80 statin-treated patients via CTCA imaging of plaque at 9 months, did not hit the primary endpoint for statistical significance on low attenuated plaque, although there was a 21% slowing of progression for drug vs. placebo, according to Jefferies analyst Michael Yee. The investigators noted that there were observed differences in plaque parameters at baseline, although low statistical power, no difference in prespecified primary endpoint of change in low attenuated plaque volume, statistically significant differences for four other plaque parameters, beneficial effects on secondary endpoints, and no adverse effect with mineral oil placebo when compared with historical controls, Yee stated in a note to investors regarding the presentation at the AHA meeting. In early afternoon trading, Amarin shares are down $1.63, or 6.8%, to $22.39.

  • 18

    Nov

  • 28

    Dec

AMRN Amarin
$22.76

-1.23 (-5.13%)

11/18/19
SBSH
11/18/19
DOWNGRADE
Target $27
SBSH
Neutral
Citi downgrades Amarin to Neutral, says strong sales growth priced in
Citi analyst Joel Beatty downgraded Amarin to Neutral from Buy with a price target of $27, up from $23. The stock closed Friday up 12%, or $2.53, to $24.02. The analyst says his new price target reflects a valuation of $11.2B when assuming a diluted share count of 413M. He models for sales of $3.2B in 2024, up from $2.7B previously, reflecting increased confidence in a Vascepa label "that will allow broad use and cost effectiveness that supports taking modest price increases in future years." He believes Vascepa is an effective drug and anticipates sales accelerating significantly over the next year. However, this is now priced into the stock following the recent rally, Beatty tells investors in a research note.
11/18/19
11/18/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Progressive (PGR) downgraded to Neutral from Conviction Buy at Goldman Sachs with analyst Yaron Kinar saying shares remain undervalued, but 2020 and 2021 consensus estimates will come down as Progressive decides to prioritize sales growth over sustaining core underwriting margins that are consistent with 2019. 2. Sherwin-Williams (SHW) downgraded to Neutral from Conviction Buy at Goldman Sachs with analyst Robert Koort citing valuation. 3. Anchiano Therapeutics (ANCN) was downgraded to Neutral from Outperform at Baird and Oppenheimer and to Neutral from Buy at Ladenburg. 4. Workday (WDAY) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Keith Weiss saying while the company said its pipeline into FY21 remains strong, CEO Aneel Bhusri noted they have "definitely" seen some deals get pushed out and deferred. 5. Amarin (AMRN) downgraded to Neutral from Buy at Citi with analyst Joel Beatty saying his new price target reflects a valuation of $11.2B when assuming a diluted share count of 413M. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/18/19
ROTH
11/18/19
NO CHANGE
ROTH
Buy
Roth says Amarin's EVAPORATE data adds 'mechanistic support' for Vascepa
Roth Capital analyst Yasmeen Rahimi said Amarin's interim EVAPORATE readout, presented at the AHA conference, missed on the primary endpoint but demonstrated statistically significant reductions for four key plaque endpoints. The analyst said her conversation with doctors emphasized that the key endpoint is total plaque reduction, which Amarin secured despite missing on low attenuation plaque. She thinks the data add "mechanistic support" to Vascepa benefits in lead-up to the drug's likely label expansion and keeps a Buy rating on Amarin shares.
11/18/19
JEFF
11/18/19
NO CHANGE
Target $30
JEFF
Buy
Amarin AHA data 'interesting,' but not relevant for approval, says Jefferies
Jefferies analyst Michael Yee commented on Amarin's late-breaking presentation at AHA, saying that investigators reported "mixed" Vascepa data from the EVAPORATE randomized plaque-imaging study. Yee tells investors in a research note that the new data is "interesting", he believes the data confirms positive prior plaque-imaging findings, and while it technically missed the primary endpoint which may cause some headline noise, it does not change his fundamental positive thesis that Vascepa should receive a good approval next month, based on the recent 16-0 positive panel vote and his view that the label will look decent and support use of Vascepa across various cardiovascular risk patients. The analyst keeps a Buy rating and $30 price target on the shares.

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KMPR

Kemper

$73.65

-0.76 (-1.02%)

04:55
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EXTR

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04:55
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AXP

American Express

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04:55
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OPRT

Oportun Financial

$20.13

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ILPT

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