Jefferies Comments on Amarin (AMRN) Following European Society of Cardiology Meeting on AMR101
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Price: $13.97 --0%
Rating Summary:
6 Buy, 12 Hold, 2 Sell
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Today's Overall Ratings:
Up: 10 | Down: 10 | New: 23
Rating Summary:
6 Buy, 12 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 10 | New: 23
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Following talks with four physicians at the European Society of Cardiology meeting on Amarin Corporation's (NASDAQ: AMRN) AMR101 and the omega-3 class, Jefferies is reiterating its Buy rating and $25 price target on shares of AMRN.
The firm notes that physicians were very positive on the profile of AMR101 and its effects on cardiovascular biomarkers. They also state that the consensus for the continued use of triglyceride lowering agents to reduce cardiovascular risk was encouraging in spite of mixed outcomes data.
An analyst at Jefferies comments, "On the negative side, physicians to whom we spoke were not surprisingly unfamiliar with the AMR101 LDL-C profile, and despite newly presented data on AMR101, fibrates were still the preferred first-line treatment for triglycerides due to the availability of cheap generics."
Currently, the firm is estimating EPS for 2011 of ($0.27) and $0.36 for 2012. Jefferies believes that AMRN will begin seeing sales in 2012 and estimating $100 million in sales for the quarter.
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 $11.50 yesterday.
The firm notes that physicians were very positive on the profile of AMR101 and its effects on cardiovascular biomarkers. They also state that the consensus for the continued use of triglyceride lowering agents to reduce cardiovascular risk was encouraging in spite of mixed outcomes data.
An analyst at Jefferies comments, "On the negative side, physicians to whom we spoke were not surprisingly unfamiliar with the AMR101 LDL-C profile, and despite newly presented data on AMR101, fibrates were still the preferred first-line treatment for triglycerides due to the availability of cheap generics."
Currently, the firm is estimating EPS for 2011 of ($0.27) and $0.36 for 2012. Jefferies believes that AMRN will begin seeing sales in 2012 and estimating $100 million in sales for the quarter.
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 $11.50 yesterday.
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