Boston, MA 10/16/2013 (wallstreetpr) – When it began to sink to many investors that the Food and Drug Administration (FDA) wasn’t that keen on approving the fish oil pill from Amarin Corporation plc (ADR) (NASDAQ:AMRN), the stock began almost an immediate downward rally. AMRN became more like a radioactive substance that investors avoided contact with – at all cost. But considering the market situation, the stock is ripe for reversal and it’s going to put good money in the hands of those who get it early.
The latest comment on the stock has come from equities research analysts at Oppenheimer who have assigned it a “market perform” rating with $6 in price target. This latest price target indicates a potential 19.76% upside on the stock as per the last previous close.
Generally, AMRN comes through with a “buy” rating and $12.05 price target in consensus estimates. At least 13 stock analysts from various research firms have commented on the stock with 10 issuing a “buy” rating and three others assigning a “hold” on the stock.
It is all but clear that a situation reversal at AMRN is something that the market didn’t expect to come this soon considering the rumored FDA view on AMRN’s fish oil pill. The hesitant investors might end up losing the implosion that AMRN is sliding into for the coming weeks and months.
The stock of the $889.98 million biopharmaceutical –company gained significantly in the previous trading session. This in itself reaffirms soothing interesting about the stock.
In the most recent quarter posting, AMRN earned $0.26 EPS on a revenue earning of $5.50 million. At $0.26, the late-stage biopharm missed $0.38 consensus estimate by the Thomson Reuters.
The rebound of AMRN shouldn’t come as a surprise because compared against Altair Nanotechnologies Inc. (ALTI), AMRN is going up while ALTI is climbing down. Of course one has reached its limits up while the other has reached its limits down.
