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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.

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Source: Equity Briefing via Thomson Reuters ONE

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