Northland Capital Markets Downgrades Amarin Corporation (AMRN) to Market Perform
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Northland Capital Markets analyst Carl Byrnes downgraded Amarin Corporation (NASDAQ: AMRN) from Outperform to Market Perform with a price target of $2.00 (from $9.00).
The analyst comments "We are lowering our rating to MP from OP with a price target of $2/share. US VASCEPA trends, we believe, will remain under pressure amid generic entry with further volume and average price declines likely. The AMRN investment thesis, in our view, has migrated to commercialization of VAZKEPA in the EU which we anticipate will be very slow."
Shares of Amarin Corporation closed at $2.74 yesterday.
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