Wedbush Assumes Coverage on Amarin Corporation (AMRN) at Outperform; Patent Application Resolves Overhang...Takeover Anyone?
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Price: $7.14 -1.24%
Rating Summary:
9 Buy, 3 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
9 Buy, 3 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade AMRN Now!
Wedbush assumes coverage on Amarin Corporation (NASDAQ: AMRN) with an Outperform. PT $19.00.
Analyst, Akiva Felt, said, "Recent allowance of AMR101 patent application provides important incremental resolution of IP overhang...Although we believe the recent patent progress is mostly priced in to AMRN’s current share price, we anticipate that renewed takeover speculation could push the stock into the teens in the near-to-mid-term. That said, we believe IP issues (e.g. NCE status and progress/setbacks with other patent applications) will continue to be a source of volatility in 2012. Moreover, we note that “me-too” drugs which fall outside of Amarin’s patent claims (e.g., <95% EPA, some DHA) may ultimately pose a greater threat to AMR101’s market exclusivity than a pure generic."
Wedbush lowers FY12 loss from (0.25) to (0.50).
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 $11.50 yesterday, with a 52 week range of $5.99-$19.87.
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Analyst, Akiva Felt, said, "Recent allowance of AMR101 patent application provides important incremental resolution of IP overhang...Although we believe the recent patent progress is mostly priced in to AMRN’s current share price, we anticipate that renewed takeover speculation could push the stock into the teens in the near-to-mid-term. That said, we believe IP issues (e.g. NCE status and progress/setbacks with other patent applications) will continue to be a source of volatility in 2012. Moreover, we note that “me-too” drugs which fall outside of Amarin’s patent claims (e.g., <95% EPA, some DHA) may ultimately pose a greater threat to AMR101’s market exclusivity than a pure generic."
Wedbush lowers FY12 loss from (0.25) to (0.50).
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 $11.50 yesterday, with a 52 week range of $5.99-$19.87.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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