Amarin’s Sell Rating Affirmed Amid US Market Challenges and Uncertain European Growth

Goldman Sachs analyst Paul Choi maintained a Sell rating on Amarin (AMRN – Research Report) today and set a price target of $1.00.

Paul Choi has given his Sell rating due to a combination of factors affecting Amarin’s financial outlook. Despite some growth in the European market, Amarin’s flagship product, Vascepa, is facing significant challenges in the United States due to pricing pressures and the looming threat of competition from generics. Although Amarin has plans to launch an authorized generic version of Vascepa, this strategy may not be sufficient to counterbalance the ongoing decline in their U.S. revenue stream.
Moreover, Choi points out that while the company’s year-over-year revenue growth in Europe is a positive sign, the lack of reimbursement approval in key European markets casts doubt on their ability to compensate for the downturn in the U.S. Given these factors, Choi sees an unfavorable risk/reward proposition in the near term, leading to the maintenance of a Sell recommendation with a 12-month price target of $1.

TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.

Amarin (AMRN) Company Description:

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. The company was founded by Geoffrey W. Guy on March 1, 1989 and is headquartered in Dublin, Ireland.