UPDATE: Wedbush Securities Downgrades Amarin Corporation to Neutral, Lowers PT

Loading...
Loading...
In a report published Wednesday, Wedbush Securities downgraded its rating on Amarin Corporation
AMRN
from Outperform to Neutral, and lowered its price target from $22.00 to $15.00. Wedbush Securities noted, “Downgrading to NEUTRAL from OUTPERFORM on updated risk/reward outlook and lowering fair value to $15 from $22. While we think a buyout of Amarin may still occur, we believe a potential deal price in the $15-20 range is becoming more realistic and is insufficient to outweigh the downside risk of Amarin's launching Vascepa alone, which grows incrementally larger with each passing week. We note that AMRN has risen 464% since July 2010 (vs. a 35% rise in the S&P500 index) and we are stepping to the sidelines to avoid riding shares back to the single-digits in the event that Amarin fails to land a buyer in the near-term.” Amarin Corporation closed on Tuesday at $12.35.
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorDowngradesPrice TargetAnalyst RatingsWedbush Securities
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...