Shares of Amarin (NASDAQ: AMRN) fell as much as 16% today after investors digested a bearish report from Wall Street.
Oppenheimer analyst Leland Gershell issued a note arguing that Amarin's Vascepa, widely expected to earn broad supplemental approval for reducing major adverse cardiovascular events (MACEs) in certain at-risk individuals, is going to fall short of sky-high expectations. While the arguments in the report are far from the popular opinion, they're important for investors to consider, especially given the company's $7 billion market cap.
As of 2:38 p.m. EST, the pharma stock had settled to a 12.8% loss.