AndhraNews.net
Home » Business News » 2012 » July » July 24, 2012

Analyst Expects Approval for Amarin; Reiterates $21 Price Target


July 24, 2012 - Vancouver

In a note to clients, Roth Capital Partner's Joseph Pantginis, Ph.D told investors that his firm expects full approval of Amarin Corporation's (NASDAQ:AMRN) AMR101 on or about this Thursday's PDUFA date.

The firm is maintaining their Buy rating and $21 price target for shares of the stock which closed the day at $15.15 -0.01 (-0.07%).

"We recommend owning Amarin based on 1) the commercial potential of AMR101 defined by differentiated Phase III data from the ANCHOR and MARINE studies as well as 2) the potential upside from a takeout or major partnership," wrote Pantginis.

In the note, Pantginis discusses various post-approval scenarios for AMRN, but believes the most likely scenario is a takeout of the company.

"Potential suitors, who have likely been waiting in the wings, have been waiting for 1) the receipt of patent protection (happening) and 2) potential NCE status around the approval," states Pantginis.

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Equity Briefing via Thomson Reuters ONE



Copyright 2012 ACN Newswire. All rights reserved.

ACN Newswire

Comment on this story

Share