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AMRN

Amarin

$22.73

0.1 (0.44%)

16:21
11/19/19
11/19
16:21
11/19/19
16:21

Oppenheimer starts Amarin with $7 target on 'rich' valuation, 'stale' M&A thesis

Oppenheimer analyst Leland Gershell initiated coverage of Amarin with an Underperform rating and $7 price target. The stock closed Tuesday up 13c to $22.73. Amarin's current valuation reflects expectations that, following near-term label expansion of sole omega-3 product Vascepa, the company's sales will inflect and grow to $2B-plus by 2024 and its operating margins will meaningfully improve, Gershell tells investors in a research note. The analyst, however, forecasts Amarin's sales growth to "underwhelm" and that "heavy selling costs" will impede its profitability. Furthermore, a 12-month stream of late-stage competitor data starting next month will increasingly weigh on shares as these products will offer superior profiles, adds Gershell. In addition, the analyst thinks the likelihood of Amarin getting acquired will only shrink with time. He views Amarin's valuation as "rich" and the M&A thesis as "stale."

  • 28

    Dec

AMRN Amarin
$22.73

0.1 (0.44%)

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.
11/19/19
JEFF
11/19/19
NO CHANGE
Target $30
JEFF
Buy
Jefferies still expects Amarin shares to rise toward $30
Following the data presented at the American Heart Association and last week's successful FDA panel vote, there are three-to-four potential drivers for Amarin shares over the next few months, Jefferies analyst Michael Yee tells investors in a research note. These include the formal label expansion for Vascepa by December 28, developments on the intellectual property front, sales trajectory for Q4 and/or 2020 guidance, and continued potential for acquisition "optionality," Yee tells investors in a research note. He says that while some investors do not like the risk/reward debate on the December 28 potential FDA approval and label wording, he's not too concerned about the exact wording. Based on commentary by the FDA at the end of the panel, Yee thinks the agency "might be broader on the label than some investors expect." The analyst still expects Amarin to rise toward $30 per share based on these catalysts. He keeps a Buy rating on the name with a $30 price target. The stock closed Monday down $1.42 to $22.60.
11/19/19
CANT
11/19/19
NO CHANGE
Target $35
CANT
Overweight
Cantor sees wide use for Amarin's Vascepa regardless of label language
Cantor Fitzgerald analyst Louise Chen affirms an Overweight rating on Amarin with a $35 price target after the company hosted a conference call to discuss its three presentations at the American Heart Association meeting. The most interesting takeaway from the call was the physicians' viewpoint regarding the "outdated" paradigm of primary versus secondary risk patients, Chen tells investors in a research note. The doctors noted that there is significant overlap between these groups, and guidelines seem to be starting to move away from these types of hardline thresholds/benchmarks as a result, adds the analyst. With this blurring of the line between these two cohorts, Chen thinks physicians will see a place for Vascepa in both patient types, regardless of label language. She continues to think the peak sales potential of Vascepa is underappreciated and that upward earnings revisions should drive Amarin shares higher.
11/19/19
OPCO
11/19/19
INITIATION
Target $7
OPCO
Underperform
Amarin initiated with an Underperform at Oppenheimer
Oppenheimer initiated coverage of Amarin with an Underperform rating and $7 price target.

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FATE

Fate Therapeutics

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KPTI

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  • 07

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ABBV

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  • 07

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SRRA

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SGMO

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  • 07

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M

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EXPE

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CBMG

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AXLA

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AZN

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ABBV

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