Amarin settlement could be ‘key catalyst’ for shares, says Jefferies

Recent updates in the dosing patent litigation between Amarin (AMRN) and Hikma and Reddy’s show the sides have been progressing and both cases were moved under the same judge in Nevada, Jefferies analyst Michael Yee tells investors in a research note. The analyst believes uncertainty around the ongoing litigation presents a risk for investors and that there is a perception on the Street that the cases impactsany potential acquisition transaction for Amarin until there is clarity. With Judge Du setting a trial date for January 13, 2020, at least a timeline for one of the two major cases is known, Yee writes. He believes a potential “key catalyst” could be a settlement beforehand. The analyst continues to think another settlement, like the one Amarin reached with Teva (TEVA), and removal of the overhang is “likely in time and is a win-win for all parties.” This “could be quite important” for Amarin shares, says Yee. He keeps a Buy rating on Amarin with a $30 price target.
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