Boston, MA 10/21/2013 (wallstreetpr) – Amarin Corporation plc (ADR) (NASDAQ:AMRN) is not a radioactive stock, but its recent life has left a lot to be desired. Apparently analysts can’t just agree on a number of fundamentals on the company and in the absence of such clear guides for investors, anxiety, if not worry, has begun to pile up.
But as if nothing is going on in the minds of investors, AMRN performed encouragingly on Friday, October 18, gaining a strong $1 on share value to close north $2.03. Friday’s trading saw AMRN’s shares dip to $1.94 during the day.
This late-stage biopharmaceutical company has lately been in the headlines over its drug candidate Vascepa ANCHOR. It is reported that the FDA Advisory Committee has voted negatively on the drug. While FDA is not tied to the Committee’s recommendations, it appears that the Administration might also go the Committee’s way.
It is reported that the Committee generally had issued with cardiovascular (CV) lowering of moderate triglycerides which its says has not been proven, perhaps until reduce-it trial results on CV come, sometime in Q4.17, which is quite a lot of time for the drug whose application already has a long history.
If Vascepa ANCHOR does flop, it is all but clear that AMRN will remain shaken to its pillars.
That AMRN is hanging precariously is better illustrated by recent analytical views by experts studying the company. In less than 24 hours interval, two stock research firms have issued what appears as negative sentiments on the stock.
First, were sentiments from analysts at MKM Partners who have lowered their price target on the stock to $5 from $9, indicating a $4 chop from the stock. However, MKM Partners has maintained their “buy” rating on the stock. On their part, Citigroup has not been kind to the company; it has downgraded its rating on the stock from a “buy” in the previous report to “Neutral” in the latest report.