Jefferies keeps $30 target on Amarin, says guidance conservative

Amarin Friday night reported “strong” Q4 Vascepa results, although stock is trading lower perhaps due to conservative guidance, Jefferies analyst Michael Yee tells investors in a research note. The analyst views the news “as a positive sign of what’s been going on recently.” Amarin does not even have a label expansion yet and it has been only two months since the mid-November data presentation, Yee writes. He expects trends to continue to grow monthly throughout the year, even before Amarin receives a formal label expansion. While the stock may be down today, “things look strong fundamentally,” Yee contends. He views the company’s sales guidance as conservative and keeps a Buy rating on Amarin with a $30 price target.
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