Amarin (AMRN) Rated Buy at Roth Capital, Sees "Blockbuster Potential" for Vascepa
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Price: $14.07 -0.57%
Rating Summary:
6 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
6 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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In transferred coverage, Roth Capital's Bert Hazlett rates Amarin Corporation (NASDAQ: AMRN) a Buy with a $17 price target. This is a reiteration of the prior rating, although the price target moves down from $26 on greater commercial and competitive risks.
Hazlett said Amarin's Vascepa has "blockbuster potential" and believes the value of the drug can be "recognized over time as new indications are granted and additional patents issue."
The bolstering of Vascepa's intellectual property through notices of allowance for multiple patents and an expected materially expanded profile with the upcoming filing and potential approval of an sNDA for a much broader population (mixed dyslipidemia), "reinforces our view of the compound's potential for long-term revenue generation," Hazlett said. These recent positive event raise the possibility of a marketing partner or potential suitor, he said.
The analyst sees three paths for the 2013 launch of Vascepa: 1) marketing it alone, 2) partnership, or 3) company acquisition. The firm estimates that marketing the drug alone or with an partner would yield $15 per share. In in a takeover, including a takeover premium, shares could be worth $20.50.
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 $12.31 yesterday.
Hazlett said Amarin's Vascepa has "blockbuster potential" and believes the value of the drug can be "recognized over time as new indications are granted and additional patents issue."
The bolstering of Vascepa's intellectual property through notices of allowance for multiple patents and an expected materially expanded profile with the upcoming filing and potential approval of an sNDA for a much broader population (mixed dyslipidemia), "reinforces our view of the compound's potential for long-term revenue generation," Hazlett said. These recent positive event raise the possibility of a marketing partner or potential suitor, he said.
The analyst sees three paths for the 2013 launch of Vascepa: 1) marketing it alone, 2) partnership, or 3) company acquisition. The firm estimates that marketing the drug alone or with an partner would yield $15 per share. In in a takeover, including a takeover premium, shares could be worth $20.50.
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 $12.31 yesterday.
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