A pre-market mover is benefiting from research into the treatment of cardiovascular disease.
Leaders are projecting 2019 revenues of $380 to $420 million, which beats estimates previous estimates of $350 million.
The company plans to have an expanded army of 800 representatives in place by October, and is pursuing a new drug application for its product.
“I have been sitting on the sidelines waiting for a potential pull-back in the stock,” Biologics writes, narrating a personal imperative to get in on this action, albeit one that, to date, has not worked. “I missed my chance in December, but I was convinced the market was going to give another shot at a pullback. Unfortunately, AMRN has not provided me an opportunity to get some cheap shares, however, the lack of a sell-off does give me confidence the market is bullish on AMRN. Now, I am looking to buy into AMRN before Vascepa’s PDUFA date in September.”
Biologics notes some of the problems with cardiovascular disease that Vascepa is poised to help address, and suggests the drug may be a “blockbuster” in dealing with issues related to epidemic obesity and diabetes rates:
“If the Vascepa is able to receive approval for cardiovascular risk reduction, it will open the door to one of the largest patient populations in the United States. Considering the obesity rate, the rise in type-II diabetes, and the attraction to high-fat diets, we can expect that population to remain outsized in the coming years. … Vascepa could be a pill someone takes twice a day along with their other medications and it reduces their risks for heart attack, stroke, or death. Of course, I don’t know if Vascepa will hit blockbuster status but I don’t see any major obstacles in the way.”
Looking long-term, we can see that AMRN rose over 40% year-to-date, so it’s not surprising that those looking for fire sale stock prices haven’t found them recently. Keep an eye on this one as these pre-market indicators may signal a whole new level of value for this drug maker.