Amarin Corporation (AMRN) PT Lowered to $5 at Jefferies on Reduced Likelihood of Appeal Success

September 3, 2020 6:35 AM EDT
Get Alerts AMRN Hot Sheet
Price: $5.17 +0.19%

Rating Summary:
    11 Buy, 10 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 8 | Down: 8 | New: 9
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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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