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AMRN

Amarin

08:31
01/10/20
01/10
08:31
01/10/20
08:31

Amarin set up for strong partnership interest in the EU, says Roth Capital

Roth Capital analyst Yasmeen Rahimi says Amarin's continued news flow in early 2020, especially around approval of Vascepa by Health Canada and this week's continued strong guidance update, marks strong execution by the Amarin team as it keeps focused on U.S. commercialization in 2020. With a broad label in Canada that looks similar to FDA approval, Rahimi sees Amarin set up for strong partnership interest in the EU and remaining geographies. The analyst made no change to her Buy rating and $31 price target.

AMRN Amarin

01/08/20
OPCO
01/08/20
NO CHANGE
OPCO
Underperform
Amarin spend guidance significantly above expectations, says Oppenheimer
Oppenheimer analyst Leland Gershell says Amarin's updated guidance for an operating expenses increase of $200M-$250M relative to 2019 levels is significantly higher than Street's consensus of an increase of $150M. While its 2020 revenue guidance of $650M to $700M was reiterated, in order to break even on cash flow Amarin requires $150M in revenue per quarter without factoring inventory build and $200M revenue per quarter including inventory build, Gershell tells investors in a research note. The analyst concludes that $700M in 2020 revenue is required to break even, meaning Vascepa sales would need to beat guidance to be cash flow positive. Further, Gershell cautions investors that Amarin's spend in Q1 and 2020 will likely be heavier than expectations, diminishing its profitability. The analyst reiterates an Underperform rating on the shares with an $8 price target. The stock in premarket trading is down 28c to $19.80.
01/08/20
CANT
01/08/20
NO CHANGE
Target $35
CANT
Overweight
Amarin headline related to UnitedHealth 'just noise,' says Cantor Fitzgerald
Cantor Fitzgerald analyst Louise Chen said she believes the 5% pullback in Amarin (AMRN) shares is related to headlines that there is a document that says Vascepa has been deemed by UnitedHealth (UNH) to be a "non-preferred" drug that requires prior authorization. However she said the drugmaker confirmed that "this is old news" since UnitedHealth has always been an outlier. If anything, she believes the reimbursement situation with UnitedHealth "could get better quickly" now that Vascepa has a broad label and she views the pullback amid this "noise" could be a good buying opportunity. Chen maintains an Overweight rating and $35 price target on Amarin shares.
01/08/20
SBSH
01/08/20
NO CHANGE
SBSH
Neutral
Amarin selloff on UnitedHealth preferred list reports unwarranted, says Citi
Citi analyst Joel Beatty attributes the selloff today in shares of Amarin (AMRN) to reports stating that UnitedHealth (UNH) dropped Vascepa from its preferred list for 2020. However, after comparing 2019 and 2020 documents for a few UnitedHealth plans, Beatty did not find any examples of changes in tiering or other preferential status for Vascepa. Payers likely haven't yet considered the new "game-changing" cardiovascular risk-reduction label for Vascepa that was granted in December, which leaves Vascepa with no relevant competitors, Beatty tells investors in an intraday research note. As a result, the analyst, who keeps a Neutral rating on Amarin, views today's share pullback as unwarranted. The move creates a lower entry point for those investors looking to buy the stock, says Beatty. Amarin in afternoon trading is down 6%, or $1.15, to $18.93.
01/09/20
ROTH
01/09/20
NO CHANGE
Target $31
ROTH
Buy
Payers 'just need time' to update formularies for Amarin's Vascepa, Roth says
Following yesterday's speculation regarding UnitedHealth's (UNH) reimbursement of Amarin's (AMRN) Vascepa, Roth Capital analyst Yasmeen Rahimi believes payers "just need time to absorb label expansion to update formularies." Although Amarin communicated Vascepa's new label to all major payers within 24 hours of the recent approval, label expansion occurred barely four weeks ago and many payers are digesting specifics of the new label and how it impacts coverage, Rahimi tells investors in a research note tiled "World's the Oyster in 2020 for Vascepa." The analyst also notes that Amarin, per the company's management, already has meetings scheduled in Q1 with some of the largest national payers, "which should allow for productive dialogue especially around prior authorizations." Rahimi sees "strong supporting evidence" indicating that reimbursement and coverage will only improve given the new cardiovascular risk reduction label for Vascepa. With a "broad label" in Canada that looks similar to the FDA approval, Amarin is positioned for "strong partnership interest" in Europe and the remaining geographies, contends the analyst. Rahimi says the company's continued news flow in early 2020, especially around approval of Vascepa by Health Canada and this week's "continued strong" guidance update, marks strong execution by the management team. The analyst keeps a Buy rating on the shares with a $31 price target. Amarin in morning trading is up 70c to $20.16.

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