Wednesday starts key catalyst for Amarin shares, says Piper Sandler - InvestingChannel

Wednesday starts key catalyst for Amarin shares, says Piper Sandler

With all eyes on the September 2 oral arguments in Amarin’s Federal Circuit appeal of Vascepa patent invalidation versus generics, one of the biggest questions is the identity of the three judges that will take part of the case panel, Piper Sandler analyst Yasmeen Rahimi tells investors in a research note. A “procedural or propharma” judge would be the most favorable for Amarin, as they have a deep background in understanding patent law, says the analyst. Rahimi views the patent litigation as a key catalyst for the shares and keeps an Overweight rating on Amarin with a $21 price target. The stock in afternoon trading is up 17c to $7.53. Meanwhile, the company this weekend unveiled a key dataset from the EVAPORATE study showing a “substantial” drop in coronary plaque measured by multi-detector computed tomography, Rahimi notes. The analyst believes this “aligns perfectly” with the cardiovascular outcomes benefits observed in the REDUCE-IT CVOT study.