Amarin downgraded to Hold from Buy at Jefferies

Jefferies downgraded Amarin to Hold from Buy with a price target of $1, down from $3. The analyst cites uncertainty on U.S. pricing due to more generics, Amarin struggling with European Union reimbursement, and a belief that any strategic value will take time for the downgrade. The firm is cautious on the shares given Amarin’s potential cash burn in 2024.