Canaccord Genuity Reiterates a 'Buy' on Amarin Corporation (AMRN); Next Stop - July 26 PDUFA; NDA on Track

May 9, 2012 9:46 AM EDT
Get Alerts AMRN Hot Sheet
Price: $2.94 -2.65%

Rating Summary:
    8 Buy, 11 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 9
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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 commercial, partnership potential of AMR101. We think AMR101, Amarin’s 96% EPA omega-3 for high triglycerides, will be approved for hypertriglyceridemia in H2/12, likely around its July 26 PDUFA data, with a broad label that will include ANCHOR trial mixed dyslipidemia data. We expect additional IP and business development progress in H2/12."

"We expect submission of mixed dyslipidemia NDA in early 2013, for late 2013 approval and 2014 launch. The status of the REDUCE-IT outcomes study appears to us to be on track to allow for the mixed dyslipidemia sNDA. We note Omthera Epanova mixed dyslipidemia ESPRIT trial data is due in July, but do not think this now represents an overhang."

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 $11.67 yesterday.

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