Amarin shares are trading lower after Jefferies downgraded the stock from Buy to Hold and lowered its price target from $3 to $1.
Portfolio Pulse from Benzinga Newsdesk
Jefferies has downgraded Amarin's stock from Buy to Hold and reduced its price target from $3 to $1, causing the shares to trade lower.
October 25, 2023 | 6:10 pm
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Amarin's stock has been downgraded by Jefferies from Buy to Hold, and its price target has been lowered from $3 to $1, leading to a decrease in share price.
The downgrade from Jefferies, a well-respected financial institution, is a negative signal to the market. The reduction in the price target from $3 to $1 indicates a significant decrease in expected future value, which is likely to discourage investors and put downward pressure on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100