- Cantor Fitzgerald issued positive remarks on Amarin Corporation ( NASDAQ: AMRN ) after the Ireland-based biotech preannounced its Q4 and 2022 financials on Tuesday, exceeding Wall Street and the firm’s own forecasts for revenue.
- The analyst Louise Chen points out that Amarin ( AMRN ), the maker of fish oil-derived therapy Vascepa/Vazkepa, expects to report $88M – $90M net revenue for Q4 2022, surpassing her estimate and Street forecasts.
- Even the full-year net revenue at $367M – $369M stands ahead of $365.6M in the consensus, according to the analyst. She pointed to the company’s liquidity position, which Amarin ( AMRN ) management thinks could support ongoing operations, including the European launches.
- Arguing that the uncertainty surrounding the U.S. business has impacted the Amarin ( AMRN ) stock, Chen writes, “These results reflect the stabilization of the U.S. business for Vascepa, in our view.”
- Therefore, Cantor reaffirms the Buy rating and 12-month price target of $5 on the stock. Amarin ( AMRN ) shares surged Tuesday after Sarissa Capital Management, the company’s largest shareholder, called for changes to the board.
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Amarin wins positive views at Cantor on topline beat