MKM Reiterates Buy, $20 Target on Amarin (AMRN) Following Application Allowance
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Price: $14.09 +0.21%
Rating Summary:
6 Buy, 12 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
6 Buy, 12 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Despite a nearly 55 percent surge in shares of Amarin (Nasdaq: AMRN) over just the last five trading sessions, MKM Partners' Jon LeCroy reiterated a Buy rating on the stock Wednesday morning.
The stock moved sharply higher as the US Patent and Trademark Office continued to update the notification on Amarin's 12/052,598, eventually allowing the patent application.
LeCroy believes the patent may protect AMR101 from generic competition all the way out to at least 2019. The analyst expects additional patent applications sometime this year. He has identified 23 applications and/or patents related to AMR101, with at least four during 2012.
The analyst believes the patent could encourage strategic partnerships or acquisitions.
LeCroy maintains a $20 price target on Amarin shares. With the stock trading up 1.8 percent to $12.15 this morning, the MKM analyst's price target represents potential upside of about 65 percent.
To track all the analyst action on shares of Amarin, visit our Analyst Ratings page.
The stock moved sharply higher as the US Patent and Trademark Office continued to update the notification on Amarin's 12/052,598, eventually allowing the patent application.
LeCroy believes the patent may protect AMR101 from generic competition all the way out to at least 2019. The analyst expects additional patent applications sometime this year. He has identified 23 applications and/or patents related to AMR101, with at least four during 2012.
The analyst believes the patent could encourage strategic partnerships or acquisitions.
LeCroy maintains a $20 price target on Amarin shares. With the stock trading up 1.8 percent to $12.15 this morning, the MKM analyst's price target represents potential upside of about 65 percent.
To track all the analyst action on shares of Amarin, visit our Analyst Ratings page.
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