Dutton Associates continues coverage of Amarin Corporation plc (Nasdaq: AMRN), raising its rating to Speculative Buy and a price target at $7.00. The 15-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.
Amarin is a biopharmaceutical company focused on the research, development, and commercialization of novel drugs for the treatment of central nervous system (CNS) disorders. The Company has focused on CNS —particularly neurology — for eight years; and having previously operated a neurology sales and marketing infrastructure in the U.S., it has an established presence and reputation in this field. Neurology is a therapeutic area with significant unmet needs, comprising diseases and disorders such as Huntington’s, Parkinson’s, ALS, ataxias, dystonias, Alzheimer’s, impaired cognition, epilepsy, and multiple sclerosis. Management’s objectives are to (1) develop and commercialize its neurology pipeline in the U.S., as well as partner these products in other markets; (2) partner globally the non-neurology indications for its compounds, such as for treating cardiovascular disease; and (3) in-license niche products for development and commercialization in the U.S. We are upgrading our rating on this stock, from Neutral to Speculative Buy, in response to several recent positive developments, namely i) Encouraging FDA comments about Miraxion, ii) The acquisition of Ester Neurosciences Limited in early December, iii) A strengthened management team, and iv) Broadening of the product pipeline. A 1-10 stock split was effective January 18th.
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.
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