Greater Competition Does Not Impact Investment Thesis - Cantor Fitzgerald Reiterates Amarin Corporation (AMRN)at Overweight
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Cantor Fitzgerald analyst Louise Chen reiterated an Overweight rating and $5.00 price target on Amarin Corporation (NASDAQ: AMRN).
The analyst comments: "We are lowering our estimates for U.S. Vascepa sales in 2022 and beyond. Generic competition for Vascepa is greater than we had initially anticipated. We are lowering our operating expenses in 2022 and beyond in the U.S. given AMRN's guidance on cost-cutting in the U.S. and re-allocation of resources to the international markets. These changes do not impact our positive investment thesis. Therefore, we are reiterating our 12-month OW rating and $5 PT for the stock."
Shares of Amarin Corporation closed at $1.89 yesterday.
By Vlad Schepkov
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