Amarin Corporation (AMRN) PT Raised to $12 at Leerink Partners

Leerink Partners analyst Roanna Ruiz raised the price target on Amarin Corporation (NASDAQ: AMRN) to $12.00 (from $10.00) while maintaining a Market Perform rating.

The analyst comments "Amarin reported 3Q25 results this morning that reflect continued progress on the company's strategic repositioning — namely, the full transition to a partnered EU model with Recordati (REC.MIL, Not Rated) and meaningful cost reductions from the recent restructuring. Total net revenue of $49.7M (+17% Y/Y) was driven primarily by stronger US performance ($40.9M, +34% Y/Y), benefiting from both improved net pricing and volume gains tied to regaining PBM exclusivity. European revenue ($4.1M) remained essentially flat Y/Y as the Recordati transition proceeds, while Rest of World ($3.6M) declined due to normal quarterly variability in partnership supply dynamics. Operating expenses fell sharply (-20% Y/Y to $33.3M), with SG&A down 47% as a result of streamlining spend and restructuring, and management reiterated a goal of achieving positive free cash flow in 2026 and emphasized the company's debt-free balance sheet (~$290M cash). Separately, we note that the quarter was marked by an important FDA labeling update for fenofibrate [LINK], revising the indication to reflect lack of cardiovascular benefit in outcomes trials and highlighting safety concerns when co-administered with statins. We believe this represents a tailwind for Vascepa, given that fibrate + statin prescriptions in the US currently exceed total icosapent ethyl (IPE) prescriptions (branded + generic combined), yet lack CV outcomes data and this FDA update should increase recognition that alternative agents like Vascepa could offer a better profile to patients over fenofibrates. That said, this could be countered by generic erosion / pricing pressure and rebating to maintain exclusive contracts in the US for Vascepa. While the strategic pivot is taking shape and the cost structure is improving, we remain watchful of the competitive US environment and the still-early stage of international expansion. We updated our model for the 3Q25 print and to reflect increased adoption of Vazkepa in the EU which increased our PT to $12 from $10. Reit. MP."

You May Also Be Interested In

• BitGo Holdings (BTGO) PT Lowered to $10 at Rosenblatt
• Northland Upgrades Hyliion Holdings (HYLN) to Outperform 'on Improved Visibility to KARNO Commercialization'
• JPMorgan Assumes salesforce.com (CRM) at Overweight, 'Overblown Concerns'