Amarin Corporation (AMRN) Symphony Data Shows Vacepta in Uptrend - Cantor Fitzgerald
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Cantor Fitzgerald analyst Louise Chen reiterated an Overweight rating and $10.00 price target on Amarin Corporation (NASDAQ: AMRN) noting that Symphony Health data for of TRx and NRx for Vascepa have increased meaningfully since pre-REDUCE-IT levels. The actual number of Rxs for Vascepa is underrepresented by data sources such as Symphony, which counts 30-day and 90-day Rxs as one Rx. Therefore the analyst normalized the TRx and NRx count values by dividing the quantity of 1-gram pills by 120 to get to the number of bottles prescribed (for 0.5-gram pills, divide by 240).
For the 30 and 90 day Vacepta Rxs, the analyst noted "We have seen a positive trend since 6/30/17, and the relative percentages for normalized TRx and NRx data as of 6/4/21 showed increases of 149% and 173%, respectively. This is also in an uptrend."
Shares of Amarin Corporation closed at $4.88 yesterday.
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