Canaccord Genuity Reiterates a 'Buy' on Amarin Corporation (AMRN); AMR101 Benefits Diabetics in ANCHOR

June 12, 2012 8:57 AM EDT
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Price: $2.95 +2.43%

Rating Summary:
    8 Buy, 11 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Canaccord Genuity reiterates a 'Buy' on Amarin Corporation (NASDAQ: AMRN) price target of $25.00.

Analyst, Ritu Baral, said, "Reiterate rating and price target on AMR101 commercial, partnering potential. We think AMR101, Amarin’s 96% EPA omega-3, will be approved for hypertriglyceridemia in H2/12, likely around its July 26 PDUFA date, with a broad label that will include ANCHOR trial mixed dyslipidemia data. We expect additional IP and business development progress in H2/12."

"We strongly believe AMR101 will be approved soon. We see the AMR101 clinical/CMC package as strong. Based on FOIA feedback, we think no new AMR101 plant inspections were needed for CMC."

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 $11.30 yesterday.

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