Amarin Corporation (AMRN ) UPDATE

Dear blog readers,

You could have seen some actions in AMRN stock in last few days. I kept updating in my WhatsApp group but today I thought to update on my blog. Let me straight come to the point. Why did AMRN stock came down last week and bounced back?

First the negatives
As you could see, there were tons of law suits from different law firms. Obviously it's not good for any company to have such law suits. There are many individual investors get panicked seeing such law suits. The job of such law firms is to keep an "eagle eye" on any such news and jump in wagon to bring the share price down. There are hedge funds, short sellers and other institutions (financials/non-financials) who are tied up to bring the share price down and make money by short selling. They know very well that individual investors gets panicked with such news and sell their shares. But if you are an experienced investor than you should be knowing that most of the time these are just "noise". Rather, I would say, it provides an opportunity to buy for long term. There is a saying "Buy LOW" and "Sell HIGH". 

Now the Positives:Why was the turnaround of the Amarin stock price? 

On 3/26: Amarin Submitted Supplemental New Drug Application (sNDA) to U.S. FDA seeking New Indication for Vascepa® (icosapent ethyl) to reduce the Risk of Major Adverse Cardiovascular Events based on Landmark REDUCE-IT™ Cardiovascular Outcomes Study.

On 3/28: The American Diabetes Association added the drug to its 'Must Have' list. This is another major catalyst. Because Amarin's drug not only works for Cardiological events but also works for humongous diabetes market. This is HUGE.

On 3/29: Vascepa® Granted Priority Review Status from Health Canada. This is the starting point and I hope many more countries could follow. Of course, the mega news will be once it's approved by FDA.

My final thoughts: These are just the beginning! There may be ups and down, it may keep fluctuating but I have been using the opportunities to keep accumulating for long term. I will not be surprised if this company gets acquired any day by a big pharma/biotech company. If that happens, my anticipation is that it could be anywhere between $40-60. But one should not buy the stock thinking the . company can be acquired. In case of AMRN the prescription and sales growth has been going up. And it is expected to keep proliferating for a long time to come.

Disclosures: The above updates are my opinion based on my analysis. I am not suggesting any body to Buy/Sell Amarin stock. It's your hard earned money so decision is yours. No body can predict the future, hence please take  your action diligently.