Here is a stock that is catching investors’ eyes with the possibility of doubling its price in 2020. A big event awaits Amarin Corp. in November when it will be engaged in a face-off with the Food and Drug Administration. The battle will be about the company’s prescription treatment for patients who face the risk of cardiovascular disease.
Amarin Corp. was founded in1989 and happens to be a biopharmaceutical company. Its headquarters are in Dublin, Ireland. The company focuses on the commercial development of medicines for cardiovascular health. Since cardiovascular diseases have become very common, any new development related to its treatment is good news for companies involved in making such therapeutics. Amarin has considerable expertise in lipid science which it leverages for developing and marketing its leading therapeutic Vascepa.
Wall Street experts agree that the AMRN stock will rise by an amazing margin of 86% over the next year. Some analysts are actually giving a much higher target for this Biotech companies stop and expect its value to rise over 400% in 2020!
It looks like the Wall Street experts a very optimistic about the company’s prescription treatment Vascepa,and are counting on its success in the battle with the FDA next month. Although the final ruling will come in December, it looks like investors are already happy with the progress of this particular cardiovascular treatment, which has delivered highly successful outcomes inter results. Markets and investors are also counting on the fact that lipid-based treatments for cardiovascular diseases are currently among the best-selling medical products. Some renowned drug companies have already racked in billions of dollars by selling lipid-based cardiovascular treatments.
If Amarin’s Vascepa wins the battle with the FDA, then we can expect this stock to zoom up and cross new life-time highs.
The Amarin Corp Plc (NASDAQ: AMRN) stock is currently trading with a volume of nearly 947.5K. Any company’s market capitalization is usually a true indicator of that company’s real value. Amarin’s market capitalization is $5.4B. The company’s stock has started moving up before the scheduled FDA meeting. In the last 5 days, the stock has gone up by 2.3%. In the last one month, the stock’s growth has been 3.46%. The year to date (YTD) growth has been 20.79%.
Considering future developments, the consensus recommendation for AMRN stock has been “buy”. The average target price stands at 29.8. This stock is currently trading at 16.57. The company’s gross margin stands at 75.92. Its operating margin is the -47.22 while its pretax margin is at -50.76. The company’s records show its net margin at -50.80. Its return on assets is recorded as -42.35 and return on equity is recorded as -266.53. The company has declared return on total capital as – 74.45 and its return on invested capital is -99.71.
It will be interesting to see how the AMRN stock trades next month and after that, what new highs this stock touches in 2020. Right now, Wall Street is wagering its money on the AMRN stock.
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