In a report released today, Louise Chen from Cantor Fitzgerald maintained a Buy rating on Amarin (AMRN – Research Report), with a price target of $35. The company’s shares closed yesterday at $20.57, close to its 52-week high of $23.34.
“We think the peak sales potential of Vascepa is underappreciated. Therefore, upward earnings revisions to levels not reflected in FactSet consensus expectations should drive AMRN shares higher. Valuation Summary We continue to use a blend of DCF and multiples (EV/EBITDA) analysis to get to our 12-month price target of $35.”
According to TipRanks.com, Chen is a 5-star analyst with an average return of 13.6% and a 41.1% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Aridis Pharmaceuticals Inc, and Amneal Pharmaceuticals Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Amarin with a $32.75 average price target, which is a 59.2% upside from current levels. In a report issued on February 28, H.C. Wainwright also reiterated a Buy rating on the stock with a $51 price target.
Based on Amarin’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $33.39 million. In comparison, last year the company had a GAAP net loss of $22.77 million.
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Amarin Corp. Plc is a biopharmaceutical company, which focuses on the commercialization and development of therapeutics for cardiovascular health. Its product development program leverages its experience in lipid science and the potential therapeutic benefits of polyunsaturated fatty acids. It has developed and markets Vascepa capsules through wholesale.