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AMRN

Amarin

$24.12

1.12 (4.87%)

17:24
12/13/19
12/13
17:24
12/13/19
17:24

Amarin raises guidance after FDA approves Vascepa

Amarin (AMRN) shares rallied almost 5% in intraday trading on Friday before they were halted, news pending. After the market closed, the FDA announced it approved the use of Vascepa as an adjunctive therapy to reduce the risk of cardiovascular events among adults with elevated triglyceride levels of 150 milligrams per deciliter or higher. The statement added that Vascepa was the first FDA approved drug to reduce cardiovascular risk among patients with elevated triglyceride levels as an add-on to maximally tolerated statin therapy. Shortly afterward, Amarin confirmed the FDA announcement, raised its FY19 revenue guidance, and gave FY20 revenue guidance. The company raised its FY19 revenue view to $410M-$425M from $380M-$420M, against a consensus of $410.25M, and gave FY20 revenue guidance of $650M-$700M, against a consensus of $654.55M. The company said, "Amarin is providing this projected revenue guidance for 2020 and has based its projection on a number of factors, including, but not limited to, expectations on market acceptance of the newly expanded label for Vascepa and current plans for expanded promotion. Vascepa revenues are anticipated to continue to increase in 2020, accompanied by quarterly industry variability, including recurring seasonal factors, particularly in the first quarter... Beyond 2020, Amarin believes that Vascepa total net revenue will grow to reach multiple billions of dollars. "

  • 28

    Dec

AMRN Amarin
$24.12

1.12 (4.87%)

11/20/19
SBSH
11/20/19
NO CHANGE
Target $16
SBSH
Neutral
Citi prefers Amarin shares to The Medicines Co. after this week's divergence
Amarin (AMRN) shares this week have declined 5% while The Medicines Co. (MDCO) stock is up 35%, Citi analyst Joel Beatty tells investors in a research note. This has brought The Medicines Co.'s enterprise value to $7.5B, exceeding Amarin's enterprise value of $7.4B, the analyst points out. However, he does not see anything fundamental having changed that would support this "drastic of a change in the relative valuation of the two companies." Thus, while Beatty keeps a Neutral rating on both stocks, he prefers owning Amarin over The Medicines Co. at this time. The Medicines Co. now looks expensive relative to Amarin, he contends. Further, the analyst says that Bloomberg's report this week of Novartis (NVS) having expressed interest in The Medicines Co. does not provide new evidence that the company is attractive from a valuation standpoint to potential acquirers.
11/22/19
JEFF
11/22/19
NO CHANGE
JEFF
Buy
Amarin recent pullback a buying opportunity, says Jefferies
Jefferies analyst Michael Yee recommends using the recent pullback in shares of Amarin as a buying opportunity. Following a meeting with management, the analyst sees confidence around a good label for Vascepa that is broader than just primary prevention. Yee expects a "strong" 2020 launch, pointing out that Amarin has doubled its salesforce and are launching direct-to-consumer. In addition, Amarin could reach a patent settlement or end up winning the trial, says Yee, who keeps a Buy rating on the shares.
11/25/19
AGIS
11/25/19
NO CHANGE
Target $23
AGIS
Buy
Amarin's Vascepa 'well on the way to becoming a blockbuster,' says Aegis
Aegis analyst Nathan Weinstein said in a note to investors on Friday that he believes Amarin's Vascepa is "well on the way to becoming a blockbuster drug," meaning one that can achieve greater than $1B in annual sales, and he thinks the drug "should achieve peak sales significantly above that." In what he views as a "conservative base case" where the drug is approved for secondary prevention along with additional patient qualifications, Weinstein predicts Vascepa could achieve sales "north of $2B a year" by 2025, Weinstein told investors. He kept a Buy rating and $23 price target on Amarin shares.
12/03/19
ROTH
12/03/19
NO CHANGE
Target $31
ROTH
Buy
Roth Capital 'confident' Amarin will obtain broad label in U.S. for Vascepa
Roth Capital analyst Yasmeen Rahimi said Amarin's (AMRN) continued news flow, particularly the announcement of the EMA's acceptance of Vascepa's MAA ahead of the December 28 PDUFA date, marks the strong execution of the team as they keep their eye close to the regulatory ball. Rahimi tells investors in a research note that she has confidence in Vascepa obtaining a broad label in the U.S., which sets Amarin up for a strong M&A interest from the EU, especially given the Novartis (NVS) inclisiran deal last week. She keeps a Buy rating and $31 price target on the shares.

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