$AMRN - On a trading lists. Downgraded today based on valuation it seems. Our opinion is this has run up big before and after drug approval and has gotten ahead of itself. Wouldn't surprise me to see it drop back under $20 for a while. The company now has to prove it can make money with the drug.Oppenheimer starts Amarin with $7 target on 'rich' valuation, 'stale' M&A thesisOppenheimer analyst Leland Gershell initiated coverage of Amarin with an Underperform rating and $7 price target. The stock closed Tuesday up 13c to $22.73. Amarin's current valuation reflects expectations that, following near-term label expansion of sole omega-3 product Vascepa, the company's sales will inflect and grow to $2B-plus by 2024 and its operating margins will meaningfully improve, Gershell tells investors in a research note. The analyst, however, forecasts Amarin's sales growth to "underwhelm" and that "heavy selling costs" will impede its profitability. Furthermore, a 12-month stream of late-stage competitor data starting next month will increasingly weigh on shares as these products will offer superior profiles, adds Gershell. In addition, the analyst thinks the likelihood of Amarin getting acquired will only shrink with time. He views Amarin's valuation as "rich" and the M&A thesis as "stale." $AMRN, Amarin Corporation plc / H1 Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal. If you liked this article, please click the LIKE (thumbs up) button. Feel free to leave any comments, question, or opinions. (Sign-up if you haven't already done so). Follow us/bookmark us and check back occasionally for additional articles or comments on our page... Wild Tiger Trading - start/main page