Amarin Continues To Rise; Profiled On Fast Money

Amarin Corp. AMRN released positive trial data on its leading drug candidate AMR101 on April 18th. The Phase III trial, known as ANCHOR, was geared towards the treatment of cardiovascular disease and met all of its primary and secondary endpoints. Another Phase III trial, MARINE, announced successful top-line results in November of 2010. The success of both of these trials has been met with a huge run up in the share price of AMRN, which has gained 587% this year. Last night, Fast Money's Guy Adami highlighted the stock which currently trades at $19.11. The chatter on Wall Street right now is that Amarin is going to be acquired by a major pharmaceutical company due to the promise shown by AMR101. Adami said that the stock could easily go to $30 with or without an imminent buyout. He said that AMRN is not quite on par with high-flying Dendreon DNDN, but "close." Amarin is a name to keep an eye on in the coming weeks and months.