Canaccord Genuity Positive on Amarin (AMRN) NCE Status; Trims PT
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Price: $6.47 -1.97%
Rating Summary:
9 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
9 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Trade AMRN Now!
Amarin Corporation (NASDAQ: AMRN) posted its second quarter results after the close, but that wasn't the real story... NCE destination for Vascepa remains the main focus of investors.
Analysts at Canaccord Genuity said they expect BD talks to intensify and Vascepa to receive NCE.
"We continue to regard Vascepa patent estate as solid and NCE as incremental to BD value," analyst Ritu Baral comments. "We are confident in the strength of AMRN’s seven Vascepa issued/allowed US patents. We value NCE from a stock stability perspective: it would prevent paragraph 4 risk-associated noise, which may be a nuisance during BD talks."
Despite the positive view, Canaccord trimmed their price price target from $27 to $26 although they maintained a Buy rating.
For an analyst ratings summary and ratings history on Amarin Corporation click here. For more ratings news on Amarin Corporation click here.
Shares of Amarin Corporation closed at $11.34 yesterday, with a 52 week range of $5.99-$15.96.
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Analysts at Canaccord Genuity said they expect BD talks to intensify and Vascepa to receive NCE.
"We continue to regard Vascepa patent estate as solid and NCE as incremental to BD value," analyst Ritu Baral comments. "We are confident in the strength of AMRN’s seven Vascepa issued/allowed US patents. We value NCE from a stock stability perspective: it would prevent paragraph 4 risk-associated noise, which may be a nuisance during BD talks."
Despite the positive view, Canaccord trimmed their price price target from $27 to $26 although they maintained a Buy rating.
For an analyst ratings summary and ratings history on Amarin Corporation click here. For more ratings news on Amarin Corporation click here.
Shares of Amarin Corporation closed at $11.34 yesterday, with a 52 week range of $5.99-$15.96.
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amrn price reduction
mike addington on Aug 9, 2012 11:49 AMMark as Spam | Reply to this comment
The comments by Ms Baral seem contrary to her decision to lower her pps target.