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Fly News Breaks for February 26, 2020
Feb 26, 2020 | 07:20 EDT
H.C. Wainwright analyst Andrew Fein reiterates a Buy rating on Amarin (AMRN) with a $51 price target following the company's Q4 results. Amarin has asserted its confidence both in its intellecutal property and its intention to vigorously defend its patents, Fein tells investors in a research note. The analyst points out that two of the original four Abbreviated New Drug Application filers currently remain, Dr. Reddy's (RDY) and Hikma (HKMPY), while Teva (TEVA) has settled with Amarin to enter the market in August 2029 and Apotex has determined not to litigate. Fein continues to believe in the feasibility of settlement with a court decision expected in March. Meanwhile, Vascepa's positive commercial traction as an omega-3 therapeutic "represents the tip of the iceberg for the treatment," the analyst writes in a research note.
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