Canaccord Genuity Reiterates a 'Buy' on Amarin Corporation (AMRN); ANCHOR Preview: Past EPA/statin Trials Show Good TG Reduction

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Canaccord Genuity reiterates a 'Buy' on Amarin Corporation (NASDAQ: AMRN), PT $11.

Canaccord analyst says, "Reiterating rating and target on high chance of ANCHOR success, AMR101 commercial potential. AMR101 is AMRN’s purified EPA omega-3 drug for high triglycerides. We expect positive top-line ANCHOR data in April/May. We think AMRN may submit the AMR101 NDA for very high triglycerides in mid-2011 and get approval in H1/12. Our $11 target is based on a pNPV analysis...We also see data from MARINE, in which 25% of patients were on background statin therapy, as supporting ANCHOR success."
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 $7.32 yesterday, with a 52 week range of $1.05-$9.66.

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