Jefferies analyst Michael Yee upgraded Amarin to Buy from Hold with a price target of $3, up from $1.30. The shares are trading at a $200M enterprise value, or less than one-times peak European sales, and has some "strategic M&A optionality," a large activist investor working to drive change, and the company is not really burning cash anymore after cutting spending in 2022, Yee tells investors in a research note. In addition, Amarin’s U.S. erosion has stabilized three quarters in a row, says the analyst. He also believes Amarin has been getting some good European pricing agreements. Yee calls the company "an intriguing small cap value play."
Published first on TheFly
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