Amarin Corporation (AMRN) PT Lowered to $5 at Jefferies on Reduced Likelihood of Appeal Success
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Jefferies analyst Michael Yee lowered the price target on Amarin Corporation (NASDAQ: AMRN) to $5.00 (from $8.00) after the appeal hearing was overseen by judges that questioned AMRN's arguments and have a historical record against strict procedural views. This is clearly bad for the company.
The analyst maintaining a Hold rating, stating "based on our consultant call this afternoon, odds are extremely low for AMRN to overturn the appeal. That said, the Street has mostly priced out US and a final decision is weeks/months away".
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