Amarin (AMRN) Jumps Higher As Jefferies Sees a Sale Versus Partnership for AMR101
Get Alerts AMRN Hot Sheet
Price: $0.88 --0%
Rating Summary:
6 Buy, 12 Hold, 2 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Rating Summary:
6 Buy, 12 Hold, 2 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Shares of Amarin Corporation (NASDAQ: AMRN) are moving higher early Tuesday following comments from Jefferies that they learned that the company is likely to see an outright sale of the company or the self-commercialization route, as opposed to a royalty-bearing partnership for AMR101.
"We learned that the company would likely prefer either an outright sale of the company or to launch AMR101 on its own, rather than a royalty-bearing partnership. Management described a partnership as "more challenging" to negotiate, noting that there are certain conditions under which a partnership would become attractive, which we believe would have to entail a limited term marketing arrangement where AMR101 rights would eventually revert back to AMRN, similar to the Actos partnership between Takeda (4502 JP, Hold, ¥3,170) and Eli Lilly (LLY, Hold, $39.94)."
The firm reiterated their Buy rating and $25 price target.
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 last traded at $7.69, up 7.25 percent.
"We learned that the company would likely prefer either an outright sale of the company or to launch AMR101 on its own, rather than a royalty-bearing partnership. Management described a partnership as "more challenging" to negotiate, noting that there are certain conditions under which a partnership would become attractive, which we believe would have to entail a limited term marketing arrangement where AMR101 rights would eventually revert back to AMRN, similar to the Actos partnership between Takeda (4502 JP, Hold, ¥3,170) and Eli Lilly (LLY, Hold, $39.94)."
The firm reiterated their Buy rating and $25 price target.
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 last traded at $7.69, up 7.25 percent.
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