Market Overview

UPDATE: Citigroup Upgrades Amarin on Valuation

Related AMRN
20 Stocks Moving In Monday's Pre-Market Session
Watch These 7 Huge Call Purchases In Thursday Trade

In a report published Friday, Citigroup analyst Jonathan Eckard upgraded the rating on Amarin (NASDAQ: AMRN) from Neutral to Buy, and reiterated the $2.50 price target.

In the report, Citigroup noted, “We are upgrading AMRN to Buy on valuation, maintaining our TP of $2.50. While we still see a bumpy road ahead for AMRN over the next ~6 months, we believe the current valuation doesn't properly reflect the potential opportunity for Vascepa's FDA approved MARINE indication. We concur with the logic of AMRN's position on the FDA appeal around ANCHOR; however, we see a significant uphill battle to gain approval from the FDA in this setting. While we do see potential near-term upside if costs can be reduced further (ultimate termination of the REDUCE-IT outcomes trial), we expect our TP is more back-end loaded in our 12-month valuation window when we will have further clarity on OPEX requirements and as the MARINE launch matures.”

Amarin closed on Thursday at $1.41.

Latest Ratings for AMRN

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 Upgrades Analyst Ratings


Related Articles (AMRN)

View Comments and Join the Discussion!

Partner Center