It's All About Anchor
Growth, Value
Seeking Alpha Analyst Since 2012
Today's releases were a net neutral for me. I liked the script update and we will exceed analyst consensus estimates.
The financing amount and timing seem strange. It's not a lot of money -- not nearly enough for self Anchor launch (a good thing) and the only guess I have on 'why now' is to be prepared in worse case scenario should a favorable BO or partnership not materialize - also to get the news out way in advance of Anchor to maintain focus on Anchor during Q3-Q4. A setup like this seems to favor a partner deal, as AMRN would require money to maintain Marine sales and Reduce It development. Just speculation though...
I don't like the equity deal, vs non-dilutive financing, seems to suggest creditors believe AMRN more risky now.
Maintain my $28-32 target and BO.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.