Trading in shares of Amarin (NASDAQ: AMRN) was halted on Friday when the stock started to take off in anticipation of good news from the U.S. Food and Drug Administration. Later in the day, the FDA provided an early holiday present to Amarin investors: the revised label the company had been seeking was approved.
The Nasdaq's trading halt was finally released after the market closed. The exchange wanted investors to calm down and not get too excited about its drug's newly expanded label. It's easy to see why investors are so enthused. The stock has run up from $3 per share in September 2018 to $24 per share on Friday.
Optimists are already forecasting a future price of $50 per share for Amarin. Indeed, according to FiercePharma, market chatter is now valuing the company at a $20 billion market cap, or $55 a share, if the company is acquired. If that happens, it would be a nearly 19-bagger for early Amarin investors in a little more than a year.
Source Fool.com