Amarin (AMRN) Vascepa Briefing Docs Not Nearly as Bad as Market Thinks - Analyst

October 14, 2013 9:34 AM EDT
Get Alerts AMRN Hot Sheet
Price: $3.16 +3.27%

Rating Summary:
    8 Buy, 11 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 19 | New: 11
Trade AMRN Now!
Join SI Premium – FREE
Aegis Capital maintains a Buy rating and $30 price target on Amarin (Nasdaq: AMRN) after Vascepa briefing documents were posted last Friday.

Analyst Ram Selvaraju commented, In our view, the briefing documents were not anywhere near as negative as initial commentary would have investors believe. Furthermore, we remain confident that the panel vote is likely to ratify our view that Vascepa is a safe and effective drug for the treatment of mixed dyslipidemia, and that new and efficacious approaches for the achievement of triglyceride-lowering in patients with mixed dyslipidemia are sorely needed.

Selvaraju noted that a meta-analysis of 29 Western prospective studies spanning over 260,000 individuals showed a correlation between triglyceride-lowering and cardiovascular benefit.

On mineral oil, the briefing docs said that the changes in lipid and lipoprotein parameters from baseline to week 12 in the mineral oil placebo group are rather atypical for a trial thatincluded a stabilization period for diet and lipid-lowering therapy, raising the possibility that mineral oil may not be as inert as assumed. If true, the treatment effects...may be overestimated." Selvaraju thinks ANCHOR was highly statistically-significant in favor of Vascepa. A similar issue was raised with MARINE, but Vascepa was ultimately approved.

For an analyst ratings summary and ratings history on Amarin click here. For more ratings news on Amarin Corporation click here.

Shares of Amarin closed at $5.09 last Friday, with a 52 week range of $5.01 to $12.96.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, FDA, Hot Comments

Add Your Comment