Canaccord Genuity Reiterates a 'Buy' on Amarin (AMRN); PTO Review; No Fundamental Change to AMR101 Opportunity

August 22, 2011 8:37 AM EDT Send to a Friend
Get Alerts AMRN Hot Sheet
Price: $0.94 -10.48%

Rating Summary:
    4 Buy, 14 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 24 | Down: 28 | New: 14
Trade AMRN Now!
Join SI Premium – FREE
Canaccord Genuity reiterates a 'Buy' on Amarin Corporation (NASDAQ: AMRN) price target of $35.00.

Canaccord analyst, Ritu Baral, says, "Reiterate rating and price target on commercial, partnership potential of AMR101. AMR101 is AMRN’s 96% EPA omega-3 drug for very high triglycerides (TG). AMRN plans to submit the AMR101 NDA for high TG in Q3/11. We think AMR101 will be approved mid-2012. We expect significant progress in IP and business development in H2/12."

"After reviewing the PTO examiner’s responses to AMRN’s counterarguments in the June non-final rejection, we think future discussion with the PTO will focus on non-obviousness and surprising findings based on a person with ordinary skill in the art. We think additional responses and office actions may extend into H1/12."

For more ratings news on Amarin Corporation click here and for the rating history of Amarin Corporation click here.

Shares of Amarin Corporation closed at $10.10 yesterday.


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Analyst Comments

Add Your Comment