UPDATE: J.P. Morgan Initiates Coverage on Amarin

According to a research report published today, J.P. Morgan has initiated Amarin

with an Overweight rating and $22 PT. In the report, J.P. Morgan said, “AMR101, Amarin's primary pipeline asset, is a purified fish oil product and represents a potential $1+ billion product opportunity, in our view. The product, which reduces triglycerides, has shown highly favorable data and is able to address both the very high triglyceride and the larger high triglyceride with mixed dyslipidemia markets.” Amarin is currently trading at $10.27.