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PropThink: Amarin Cancels Investor Conference Appearance; Read-through Could Be Positive


September 14, 2012 -

Reports from Bloomberg that Amarin Corp. (NASDAQ:AMRN) has pulled out of the UBS Global Life Sciences Conference next week is leading some analysts to the assumption that the company has advanced talks with potential partners or acquirers of the company. AMRN management has not been shy with investors about its discussions with large-cap drug companies to potentially become a marketing partner or perhaps purchase the company outright for its lead product, Vascepa, which was approved in July. Sources say that the company is cancelling its presentation because of a self-imposed quiet period in front of the FDA's decision on Vascepa's NCE status (see PropThink's latest article), however, given that there is typically no set date for an NCE decision, investors are skeptical of this reason. Assumptions that the company has moved to advanced discussions with potential drug company partners could push shares of AMRN higher. Many analysts are calling for the company to be acquired and have an average price target for AMRN at $26 per share, suggesting that the stock has room to run if an acquisition is truly at hand.
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PropThink is an intelligence service that delivers long and short trading ideas to investors in the healthcare and life sciences sectors. Our focus is on identifying and analyzing technically-complicated companies and equities that are grossly over or under-valued. We offer daily market coverage, weekly feature stories, and a newsletter to investors who subscribe on PropThink.com. To learn more, follow us on Twitter or visit us at http://www.propthink.com.




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