Dutton & Associates Announces Investment Opinion: Amarin Speculative Buy Rating Issued By Dutton & Associates In Initiating Coverage.Business Editors NOTE TO EDITORS: The following is an investment opinion issued by Dutton & Associates EL DORADO HILLS, Calif.--(BUSINESS WIRE)--Sept. 22, 2003 J.M. Dutton & Associates initiates coverage of Amarin Corporation plc (Nasdaq:AMRN) with a speculative buy rating and a $5.50 price target. The 13-page report by J.M. Dutton senior analyst Stephen L. Handley is available at www.jmdutton.com as well as from Bloomberg, Zacks, First Call, Multex, and other leading financial portals. Amarin is a specialty pharmaceutical company that licenses and markets drugs in the U.S. to treat specific neurological diseases, including Parkinson's disease Parkinson's disease or Parkinsonism, degenerative brain disorder first described by the English surgeon James Parkinson in 1817. When there is no known cause, the disease usually appears after age 40 and is referred to as Parkinson's disease. , Huntington's Disease Huntington's disease, hereditary, acute disturbance of the central nervous system usually beginning in middle age and characterized by involuntary muscular movements and progressive intellectual deterioration; formerly called Huntington's chorea. and other movement disorders Movement Disorders Definition Movement disorders are a group of diseases and syndromes affecting the ability to produce and control movement. Description , such as ALS Als (äls), Ger. Alsen, island, 121 sq mi (313 sq km), Sønderjylland co., S Denmark, in the Lille Bælt, separated from the mainland by the narrow Alensund. (Lou Gehrig's disease Lou Geh·rig's disease n. See amyotrophic lateral sclerosis. ). The U.S. market to treat neurological diseases is estimated to be in the range of $3.5-$5.0 billion, expanding about 15% per year. About 7,200 neurologists in the U.S. write most of the prescriptions in this field. With a market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. of only about $50 million, we consider the stock significantly undervalued Undervalued A stock or other security that is trading below its true value. Notes: The difficulty is knowing what the "true" value actually is. Analysts will usually recommend an undervalued stock with a strong buy rating. in consideration of numerous factors discussed in the report. It is apparent that a sharp recovery in Amarin's fortunes is dependent on the FDA's final approval of Zelapar, its second drug to treat Parkinson's disease. However, before year-end Amarin is scheduled to pay Elan $30 million, and needs to soon obtain these funds from one of several possible sources discussed in the report. Rick Stewart, AMRN's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , is scheduled to speak Wednesday, September 24 from 9:20 a.m. to 9:40 a.m. at the J.M. Dutton & Associates Healthcare & Biotechnology Conference at The Harvard Club in NYC NYC abbr. New York City NYC New York City . AMRN joins 10 other attractive biotechnology companies from our coverage universe. The conference will be web broadcast live and professional investors can attend the conference. Information on the 11 companies presenting, conference attendance and schedule of live web broadcast at www.jmdutton.com/FrontPage_Articles/JMD_healthconference.html. About Dutton & Associates Dutton & Associates is one of the largest independent investment research firms in the U.S. Its 21 senior analysts are primarily CFAs, and have expertise in many industries. Dutton & Associates provides continuing analyst coverage of over 60 enrolled companies, and its research, estimates, and ratings are carried in all the major databases serving institutions and online investors. The cost of enrollment in our one-year continuing research program is US $28,000 prepaid before commencement of our research activities. We received $25,000 from the Company for coverage for the year, and do not accept payment of our fees in company stock. Our principals and analysts are prohibited from owning or trading in securities of covered companies. The views expressed in this research report accurately reflect the analyst's personal views about the subject securities or issuer. Neither the analyst's compensation nor the compensation received by us is in any way related to the specific ratings or views contained in this research report or note. Please read full disclosures and analyst background at www.jmdutton.com before investing. |
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