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Oppenheimer Reiterates Perform Rating on Amarin Following AMR-102 Study

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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.

Posted-In: Akiva Felt OppenheimerAnalyst Color Reiteration Analyst Ratings

 

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