Wedbush analyst Akiva Felt today:
We are downgrading shares of Amarin from Outperfrom to Neutral as we view the risk/reward to be less favorable now that October is underway. In sum, the downgrade is based on our view that:
1) The absence of a deal by now suggests that any potential acquisition premium is unlikey to meet the Street's lofty expectations.2) A potential near-term announcement that Amarin has begun hiring a sales force for Vascepa represents a concrete negative catalyst, which management previously guided would occur in October (in the absence of a deal.) 3) Given the continued vacuum of information surrounding the status of Amarin's negotiations, we believe shares will trend lower as time passes in October as investors grow incrementally more fearful that a deal may fail to materialize. Well said, Akiva. He's come around to my argument: "If Amarin fails to gain NCE
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