Cantor Fitzgerald Maintains a Buy Rating on Amarin (AMRN)

By Austin Angelo

Cantor Fitzgerald analyst Louise Chen maintained a Buy rating on Amarin (AMRNResearch Report) today and set a price target of $35. The company’s shares closed yesterday at $17.99.

Chen noted:

“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 4-star analyst with an average return of 8.7% and a 37.9% 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 $34.80 average price target.

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The company has a one-year high of $23.34 and a one-year low of $2.35. Currently, Amarin has an average volume of 18.37M.

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Amarin Corp. Plc is a biopharmaceutical company, which focuses on the commercialization and development of therapeutics for cardiovascular health. It’s 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.