AMRN

Amarin Corp. Plc

Healthcare


Presented:06/16/2020
Price:$6.89
Cap:$2.49B
Current Price:$0.58
Cap:$0.24B

Presented

Date06/16/2020
Price$6.89
Market Cap$2.49B
Ent Value$8.03B
P/E RatioN/A
Book Value$1.63
Div Yield0%
Shares O/S361.71M
Ave Daily Vol15,193,374
Short IntN/A

Current

Price$0.58
Market Cap$0.24B
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.

Publicly traded companies mentioned herein: Amarin Corporation plc (AMRN), Dr.Reddy's Laboratories Ltd (RDY), Hikma Pharmaceuticals Plc (HIK LN)

Please note, after the market closed on June 16th, AMRN announced a patent litigation settlement agreement with Apotex, the Canadian generic drug manufacturer, which states that Apotex may not sell a generic version of Vascepa in the US until August 9, 2029.

Highlights

The presenter is long shares of Amarin Corp (AMRN) due to the potential for a resetting of AMRN’s value as shareholders consider the probability of a successful appeal of The United States District Court for the District of Nevada’s ruling that invalidated six patents on Vascepa, which accounts for nearly all of AMRN’s revenue (the patents were set to expire in 2030). Now, generic drug companies are lining up to create cheaper versions of the drug, which is used to lower patients’ triglycerides (TG) levels. With the stock in the $6 - $7 range, the risk/reward favors bulls, in his opinion, as he believes the stock price should reflect at least a 30%(perhaps 50%) probability of AMRN winning its appeal (clarity is expected in September). If AMRN were to win the appeal outright, the presenter’s fair value target is $27. Putting it all together, the presenter believes that the stock should trade up to at least $10 over the next 3 - 6 months.

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