UPDATE: Citigroup Reiterates Buy Rating, Raises PT on Amarin Corporation plc Following Lighter 2Q13 Sales - Amarin Corp (NASDAQ:AMRN)

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In a report published Monday, Citigroup analyst Jonathan Eckard reiterated a Buy rating on

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Amarin Corporation plc

(NASDAQ: AMRN), and raised the price target from $11.00 to $13.00.In the report, Citigroup noted, “We are lowering our target price to $11 (-$2) and decreasing Vascepa estimates following lighter 2Q:13 sales than expected. While AMRN is laying the tracks to position the drug for favorable reimbursement, we have lowered our near and long-term Vascepa estimates in the current MARINE setting until we see commercial sales pick up. We believe the heightened concerns around the FDA AdComm panel for the ANCHOR filing (Oct. 16) could make the event meaningful upside catalyst if the outcome is ultimately clean.”Amarin Corporation plc closed on Friday at $5.39.