Oppenheimer Sees Doom and Gloom in Amarin (AMRN) Stock

Buoyed by optimism over the label expansion of Amarin’s (AMRN) flagship drug, Vascepa, the fish oil drug maker’s stock has run off to the races — up over 60% year-to-date. But how long can that last? This afternoon, US investment giant Oppenheimer predicted an imminent crash in Amarin shares.Oppenheimer analyst Leland Gershell and his team joined a small, but vocal camp of bearish folks waving investors away from Amarin stock. Gershell initiated coverage on AMRN with an “underperform” rating and a $7.00 price target, predicting the stock will drop about 70% in the next 12 months. (To watch Gershell’s track …read more

Source:: Yahoo Finance

      

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