UPDATE: JPMorgan Downgrades Amarin Corporation (AMRN) to Underweight
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JPMorgan analyst Jessica Fye downgraded Amarin Corporation (NASDAQ: AMRN) from Neutral to Underweight with no PT.
The analyst comments "We have an Underweight rating on AMRN due to headwinds in both US and Europe. We believe recent pricing and volume pressure observed in the US could potentially become worse, and in Europe AMRN may struggle to achieve the goal of
getting reimbursement and launching in multiple countries by YE22 without compromising on price. Net-net, between the growing generic threat in the US and what we expect to be a slow-to-materialize European opportunity, we believe there are better opportunities for upside elsewhere in our coverage."
Shares of Amarin Corporation closed at $1.35 yesterday.
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