Citi upgrades Amarin to Buy from Neutral after 27% selloff since November

Citi analyst Joel Beatty upgraded Amarin to Buy from Neutral with a price target of $24, down from $27. The shares closed Friday down 7c to $17.62. With the stock trading 27% lower since November, now is an attractive time to buy, Beatty tells investors in a research note. The analyst still believes Vascepa sales will “accelerate strongly” over the next couple years. Further, Amarin will likely emerge from the ongoing intellectual property litigation with Vascepa exclusivity largely intact, contends Beatty.