UPDATE: J.P. Morgan Reiterates Overweight Rating, Lowers PT on Amarin Corporation
In a report published Friday, J.P. Morgan & Co. reiterated its Overweight rating on Amarin Corporation plc (NASDAQ: AMRN), but lowered its price target from $20.00 to $18.00.
J.P. Morgan noted, “Maintain Overweight rating. Vascepa, 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. Following FDA approval for Vascepa in July 2012 and see significant strategic value for the asset should Amarin seek to partner the product or sell itself.”
Amarin Corporation plc closed on Thursday at $7.68.
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Tags: J.P. Morgan & Co.