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UPDATE: Citigroup Lowers PT on Amarin Following Lighter 2Q13 Sales

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In a report published Monday, Citigroup analyst Jonathan Eckard reiterated a Buy rating on Amarin (NASDAQ: AMRN), and lowered the price target from $13.00 to $11.00.

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 closed on Friday at $5.39.

Latest Ratings for AMRN

DateFirmActionFromTo
Oct 2016CitigroupInitiates Coverage OnBuy
Oct 2016Cantor FitzgeraldInitiates Coverage onBuy
Oct 2016Cantor FitzgeraldInitiates Coverage onBuy

View More Analyst Ratings for AMRN
View the Latest Analyst Ratings

Posted-In: Citigroup Jonathan EckardAnalyst Color Price Target Analyst Ratings

 

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