There is some truth to what you say; however, I believe that the omega 3 market is "holding its breath" for the interim results of Amarin's REDUCE-IT study. If they are compelling,there may be a paradigm shift in terms of the role of omega 3's for treating cardiovascular disease. There is a lot on the line and some may be trying to keep this share price low to be able to exploit the situation. The statin and PCSK9 "camps" are also trying to bolster their positions.
Last week, the YMB price target was $6.50 based on three analysts (HCW - a reiterated $10; S - $6.00 and J - $3.50). No numbers for O, even though they are still listed as covering the stock.At the beginning of the week, the target had been lowered to $4.75 and HCW was missing from the mix. Anybody know how to contact them to try to rectify this matter?
These sort of "optics" do have some impact on trading and prices; and we need all the help that we can get:-).
They have already awarded the options:-)
Seriously, one way to achieve greater accountability would be to try to "poll" some of the other major investors as to their views. If the dissatisfaction were great enough, it might be possible to have an issue of such nature as an agenda item for the next AGM. Time is starting to run out for such a play. I personally think that the board (Ekman and Healy in particular) need to be more visible, accountable and approachable. Shareholders also need to exercise their rights to contact and demand "action" from the lead independent director as outlined in the articles of incorporation. That's a few; maybe you've got some other ideas?
I'm growing weary of the "excuses", such as it's the market, or IBB" as to why Amarin's share price is so down beaten. It seems as if somebody uses this "excuse" to drive Amarin even lower and most investors just go along with it without much thought. Many other biotechs are up today; and Amarin should be too. It's time to make management more accountable.
Any thoughts (also) in terms of anticipation of Amarin's interim REDUCE-IT results that some expect in the next couple of months? "Good" results for Amarin in terms of conclusive outcomes evidence of the cardio -protective benefits/attributes of omega 3 PUFA would likely raise every company and dietary supplement manufacturers in this "space".
The Valeant situation (a BP down significantly) is not helpful but somehow it seems as if such events get used as a justification for Amarin to go down significantly. The IBB is down less than 3% and a number of other companies are up significantly or more or less holding their own. Yet, Amarin, already pulverized, and following what some considered a great court case win and on the verge of other positive catalysts - NCE and R-IT interim, depending on your view - is knocked down closer to 8%. Is there some sort of "controlling hand"??
One "stab in the dark" is that somebody is accumulating partly in anticipation of Amarin's (AMRN) REDUCE - IT study having favorable interim results in the next few weeks. This MIGHT be a "game changer" for companies in the EPA space?
I can't disagree with what you're saying; good R-IT interim results will perk up interest. BUT could the results only galvanize the efforts of the Watsons and Tevas to continue to try to confound Amarin to get their hands o the assets as cheaply as possible? Without some really good assurances that Amarin has patent strength or IP exclusivity, Amarin is vulnerable and the current landscape creates opportunities to exploit the weakness. The current political headwinds are not insignificant and Amarin is potentially a great "whipping boy" (share the wealth, keep prices low through generics Yada yada). The potential leadership vacuum at FDA (I think it is going to take a lot longer to confirm Califf and there is even a possibility that Obama may have to start over) which may make it harder for the agency to make controversial decisions in a timely (for us) manner. Ostroff is not going to do anything that could undermine current presidential candidates.
The whole situation is very strange. Could overwhelming efficacy "back fire" in the absence of other desirable assurances? Are there circumstances under which Amarin might want to delay or drag out results in order to see which way the "wind is blowing"?