Oppenheimer Reiterates Perform Rating on Amarin Following AMR-102 Study
In a report published Friday, Oppenheimer analyst Akiva Felt reiterated a Perform rating and $8.00 price target on Amarin (NASDAQ: AMRN).
In the report, Oppenheimer noted, “Amarin reported that the Phase 1 study of AMR-102 (fixed-dose combination of Vascepa+rosuvastatin) demonstrated positive pharmacokinetic and safety results. Specifically, the AMR-102 combination product was absorbed in the same manner as taking the two drugs independently. These findings should not be surprising, in our view, given the drug-drug-interaction (DDI) studies conducted as part of Vascepa's NDA which demonstrated that Vascepa did not inhibit the metabolism of statins. That said, we view the Phase 1 results to be incrementally positive, demonstrating that AMR-102 is formulated in a viable manner. Our focus remains on Vascepa as the key driver for AMRN shares. Reiterate Perform.”
Amarin closed on Thursday at $6.30.
Latest Ratings for AMRN
|Feb 2014||Aegis Capital||Maintains||Hold|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.