Goldman Sachs Reiterates Neutral on Amarin Ahead of Advisory Panel

In a report published Wednesday, Goldman Sachs analyst Gary Nachman reiterated a Neutral rating and $6.80 price target on Amarin Corporation plc (NASDAQ: AMRN).

In the report, Goldman Sachs noted, “Given that the upcoming advisory panel for AMRN's Vascepa in the expanded ANCHOR indication on Oct. 16 is such an important catalyst (followed by the PDUFA on Dec. 20), we wanted to try and frame the potential outcomes and what we think it could mean to the stock, as well as provide an options strategy. We continue to believe there is a greater than 50% chance for a favorable outcome (we estimate ~60%). However, we view the overall risk/reward in the stock going into this event as being less favorable given reasonably high expectations. We remain Neutral.”

Amarin Corporation plc closed on Tuesday at $6.69.