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Biotech / Medical : AMRN: Amarin Corporation plc
AMRN 15.99-1.8%9:30 AM EST
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To: Joe Dancy who wrote (1)12/13/2001 5:42:39 PM
From: Mkilloran  Read Replies (1) of 49
 
additional comments on AMRN

November 24, 2001
Small-Cap Growth Stocks Grossly Undervalued

Joseph Dancy, manager of the LSGI Venture Fund, has seen his portfolio outperform the Nasdaq Composite index by 37.6% this year. A value-based investor in small growth companies, we revisit Dancy this week for his view of the market.

Q: You have been bullish for quite some time on a company called Amarin (AMRN). In the last 12 months it has rocketed from $6 to over $25. Are you still bullish on Amarin here?

A: Clearly the upside now is not as compelling as it was a year ago. We look at the risk/reward relationship of each firm we invest in and allocate capital accordingly. The company continues to post impressive revenue gains, and issued guidance last month that they will earn $1.20 a share in the fiscal year that ends next month.

With the growth, strategy of targeting drugs that have not been marketed aggressively, and their product pipeline we still like this firm at the current price. If you recall Mark we recommended the company in an interview with the IFC in November of 1998 at a price of $1.50. So at the current market price it has been a ten-bagger plus. We think Amarin has further to run.

Amarin has been our type of company to invest in - grossly undervalued, in the most inefficient part of the market, growing at rates well above average, and well managed.

Amarin has been very good at telling their story to institutional investors the last six months. The company is the largest position in our portfolio at this point, but we don't expect the performance in the next twelve months to repeat the performance of the last twelve.
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