"This acceptance as a presentation of late-breaking clinical trial results is based on the ability of REDUCE-IT to address a critical question in cardiovascular prevention. The AHA has reviewed the design of the REDUCE-IT study, however, they have not yet seen the results of the study. As Amarin has guided in the past, topline results of this study are anticipated to be made public prior to the end of this month, September 2018. The AHA has not been provided any advanced access to the results of this study. "
Amarin price target raised to $25 from $17 at Citi. Citi analyst Joel Beatty raised his price target for Amarin to $25 from $17 and maintains a Buy rating on the shares. The analyst increased his 2025 Vascepa sales projection to $3.0B from $2.3B and his sales multiple to 4.25 times from 3.75. The market is still underestimating how easy it will be for primary care docs to prescribe Vascepa, Beatty tells investors in a research note. While a debt offering and ramp up in the size of the sales force could pressure the stock due to investors perceiving an acquisition of Amarin as being less likely in the near-term, growth in scripts and sales should mitigate the downside, the analyst contends.
Landmark Cardiovascular Risk Reduction Benefits Demonstrated in REDUCE-IT Are Largest of Any Major Cardiovascular Outcomes Study of a Drug Intended to Address Residual Cardiovascular Risk Remaining After Cholesterol Management
Cardiovascular Death Reduced by 20% Fatal or Nonfatal Heart Attacks Reduced by 31% Fatal or Nonfatal Stroke Reduced by 28% Urgent or Emergent Coronary RevascularizationReduced by 35% Hospitalization for Unstable AnginaReduced by 32%
Number Needed to Treat for Primary Composite Endpoint: 21
Patient Years of Study Support Favorable Benefit/Risk Profile in REDUCE-IT
Affordably Priced Vascepa Positions Amarin with Potential to Help Millions of Patients
Conference Call Scheduled for Today, Saturday, November 10, 2018 at 7:15 pm CT/8:15 pm ET