Message #3 From:
Stock News Bot Date: February 28, 2007 09:00:00 AM
AMRN News Dutton Associates Announces Investment Opinion: Amarin Rating Maintained At Strong Speculative Buy By Dutton Associates
EL DORADO HILLS, Calif.--(BUSINESS WIRE)--Dutton Associates continues coverage of Amarin Corporation plc (Nasdaq:AMRN), maintaining its rating at Strong Speculative Buy and its price target at $4.50. The 12-page report by Dutton senior analyst Stephen Handley is available at www.jmdutton.com as well as from First Call, Bloomberg, Zacks, Reuters, Knobias, and other leading financial portals.
On February 8, Amarin reported results for 2006 and held an upbeat conference call for investors. For the entire year there was a loss of $26.9 million, or $0.33 per share, which was closely in line with the model in our basic report last July. The loss primarily reflected substantial investment in two Phase III trials with Amarin’s key compound, Miraxion, in Huntington’s disease (HD), and also development costs associated with Amarin’s novel oral formulation of apomorphine for advanced Parkinson’s disease. While Miraxion for the treatment of HD correctly remains the primary focal point for investors, Amarin also reports that it is making good progress with this compound in other indications, particularly Parkinson’s disease and melancholic depression. In short, we are favorably impressed with Amarin’s outlook, for several reasons discussed. There are likely to be several catalysts to spark increased investor interest over the coming year, related to further confirmation of Miraxion’s effectiveness and other clinical milestones.
About Dutton Associates
Dutton Associates is one of the largest independent investment research firms in the U.S. Its 31 senior analysts are primarily CFAs, and have expertise in many industries. Dutton Associates provides continuing analyst coverage of over 140 enrolled companies, and its research, estimates, and ratings are carried in all the major databases serving institutions and online investors.
The cost of enrollment in our one-year continuing research program is US $35,000 prepaid for 4 Research Reports, typically published quarterly, and requisite Research Notes. Dutton Associates received $52,000 from the Company for 8 Research Reports with coverage commencing on 9/22/2003. The Firm does not accept any equity compensation. Our principals and analysts are prohibited from owning or trading in securities of covered companies. The views expressed in this research report accurately reflect the analyst's personal views about the subject securities or issuer. Neither the analyst's compensation nor the compensation received by us is in any way related to the specific ratings or views contained in this research report or note. Please read full disclosures and analyst background at www.jmdutton.com before investing.
