real-time news and commentary for investors
Tuesday, Nov 27
2012, 11:37 AM
Amarin (AMRN +5%) trades up after being awarded a patent for its fish oil pill Vascepa....
Amarin (AMRN +5%) trades up after being awarded a patent for its fish oil pill Vascepa. Citigroup plays catch-up with the rest of the Street by initiating the shares with a Buy and a $20 price target on the news. Citi says that concerns over an exclusivity decision on the pill had put pressure on the stock and driven valuations near a "worst case" scenario, but that overhang has now been removed and the risk/reward is favorable. The firm adds that Vascepa has a near $1B commercial potential, even if AMRN has to launch the drug alone.