We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Amarin (AMRN) Stock Up on Rumors of Acquisition by Pfizer
Read MoreHide Full Article
Shares of Amarin Corporation plc (AMRN - Free Report) rallied 22.1% on Thursday, possibly on speculations that Pfizer (PFE - Free Report) may bid to acquire the company. The company’s stock has been rising for the past two days on above average volume.
Moreover, a glimpse of the company’s price trend reveals that Amarin has outperformed the industry in the past six months. The stock has soared 537.1% against the industry’s decline of 14.4%.
Amarin’s sole approved product, Vascepa, is available in the United States as an adjunct to diet in order to reduce triglyceride levels in adult patients with severe (≥500 mg/dL) hypertriglyceridemia. Moreover, data from a late-stage cardiovascular outcomes study – REDUCE-IT – evaluating Vascepa demonstrated that the drug can achieve a significant cardiovascular risk reduction in patients with bad cholesterol (LDL-C), controlled by statin therapy. The drug also reduced risk of cardiovascular death, heart attacks and stroke by 26% compared to placebo. Upon successful addition of these data to the label of the drug, it will be eligible to treat a larger patient population.
At the recently held J.P. Morgan Healthcare Conference in San Francisco, Pfizer’s new CEO, Albert Bourla, said that the company may add mid- and late-stage assets in its six therapeutic areas of focus – internal medicine, vaccines, oncology, inflammation & immunology, rare disease and consumer healthcare – to its pipeline. We believe that Pfizer may buy Amarin in a bid to strengthen its cardiovascular and metabolic diseases portfolio within internal medicine.
Generally, speculations are rife about increasing M&A activity in the pharma space with announcement of the mega-merger deal between Bristol-Myers (BMY - Free Report) and Celgene , and proposed acquisition of Loxo Oncology by Eli Lilly. In-fact, the key topic of discussion at the J.P. Morgan conference was the possibility of more pharma and biotech M&A activity in 2019.
There are several factors, which are creating a favorable M&A environment. Big pharma companies have huge cash at their disposal to fund acquisitions, following the tax overhaul and cash repatriation. The recent pullback in biotech stocks has also made valuations attractive.
Apart from Amarin, several other small-biotech companies have seen their shares rallying in the past few days on buyout rumors.
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Image: Bigstock
Amarin (AMRN) Stock Up on Rumors of Acquisition by Pfizer
Shares of Amarin Corporation plc (AMRN - Free Report) rallied 22.1% on Thursday, possibly on speculations that Pfizer (PFE - Free Report) may bid to acquire the company. The company’s stock has been rising for the past two days on above average volume.
Moreover, a glimpse of the company’s price trend reveals that Amarin has outperformed the industry in the past six months. The stock has soared 537.1% against the industry’s decline of 14.4%.
Amarin’s sole approved product, Vascepa, is available in the United States as an adjunct to diet in order to reduce triglyceride levels in adult patients with severe (≥500 mg/dL) hypertriglyceridemia. Moreover, data from a late-stage cardiovascular outcomes study – REDUCE-IT – evaluating Vascepa demonstrated that the drug can achieve a significant cardiovascular risk reduction in patients with bad cholesterol (LDL-C), controlled by statin therapy. The drug also reduced risk of cardiovascular death, heart attacks and stroke by 26% compared to placebo. Upon successful addition of these data to the label of the drug, it will be eligible to treat a larger patient population.
At the recently held J.P. Morgan Healthcare Conference in San Francisco, Pfizer’s new CEO, Albert Bourla, said that the company may add mid- and late-stage assets in its six therapeutic areas of focus – internal medicine, vaccines, oncology, inflammation & immunology, rare disease and consumer healthcare – to its pipeline. We believe that Pfizer may buy Amarin in a bid to strengthen its cardiovascular and metabolic diseases portfolio within internal medicine.
Generally, speculations are rife about increasing M&A activity in the pharma space with announcement of the mega-merger deal between Bristol-Myers (BMY - Free Report) and Celgene , and proposed acquisition of Loxo Oncology by Eli Lilly. In-fact, the key topic of discussion at the J.P. Morgan conference was the possibility of more pharma and biotech M&A activity in 2019.
There are several factors, which are creating a favorable M&A environment. Big pharma companies have huge cash at their disposal to fund acquisitions, following the tax overhaul and cash repatriation. The recent pullback in biotech stocks has also made valuations attractive.
Apart from Amarin, several other small-biotech companies have seen their shares rallying in the past few days on buyout rumors.
Amarin Corporation PLC Price
Amarin Corporation PLC Price | Amarin Corporation PLC Quote
Zacks Rank
Amarin currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>