Bears Continue to Attack Amarin (AMRN) Post-Approval
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Price: $6.60 -0.3%
Rating Summary:
9 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
9 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade AMRN Now!
Despite a more than 20 percent sell-off since the FDA approved Vascepa for high triglyceride levels in late July, shares of Amarin Corporation plc (Nasdaq: AMRN) continue to be pressured as analysts see early generic competition.
Analysts at Summer Street Research said Vascepa won't be granted new chemical entity (NCE) status and obtain five years of exclusivity, citing a consultant service MCRI Network Insights.
The firm warns the stock will remain under pressure due to risk of a slow roll-out and potential generic competition.
Other analysts are more positive on NCE status and protection from generic competition. "While NCE status would be a clear positive (and something we believe Vacepa will receive), we believe the rapidly developing patent estate surrounding Vascepa provides a substantial defense against generic competition," JPMorgan's Chris Schott said recently. He rates shares at Overweight with a $27 price target.
The FDA is expected to FDA decide on new chemical entity by August 17.
Shares of AMRN last traded at $11.27, down 5.5 percent.
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Analysts at Summer Street Research said Vascepa won't be granted new chemical entity (NCE) status and obtain five years of exclusivity, citing a consultant service MCRI Network Insights.
The firm warns the stock will remain under pressure due to risk of a slow roll-out and potential generic competition.
Other analysts are more positive on NCE status and protection from generic competition. "While NCE status would be a clear positive (and something we believe Vacepa will receive), we believe the rapidly developing patent estate surrounding Vascepa provides a substantial defense against generic competition," JPMorgan's Chris Schott said recently. He rates shares at Overweight with a $27 price target.
The FDA is expected to FDA decide on new chemical entity by August 17.
Shares of AMRN last traded at $11.27, down 5.5 percent.
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