SunTrust analyst John Boris lowered his price target on Amarin after the company guided its FY19 revenue outlook well below consensus and offered more details timing of Vascepa sNDA filing. The analyst contends that the company needs to employ a larger sales force to “realize Vascepa full potential” beyond the 400 reps currently and also lowers his FY19 EPS view to (23c) from 18c to reflect Amarin’s expectations of lower sales and higher SG&A costs. Longer term, Boris keeps his Buy rating on Amarin, noting that Vascepa could have a “significant commercial upside” if it can secure a label for reducing cardiovascular risk.
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