Hate to say it but there is a good chance that the coral will die. Bad shipping is very common with LPS corals. Some of the species that tend to puff out a lot, such as brains and frog spawns, will get damaged within their bags without any problems being visible. Sometimes the flesh will be drawn back and forth over the sharp ridges of the skeleton, this area will eventually die off from infection.

One way to help out corals that have been affected like this is to use iodine dips to help prevent the spread of infections.

You might luck out and have one area continue to live. Generally in a die off situation the coral will not regrow over the dead skeleton area. I've found it to be best to cut off the dead skeleton area to prevent algal growth that could affect the coral. You may wish to keep the piece of skeleton in the tank. Some LPS corals will withdraw back into the skeleton if being starved or threatened. After a few months they may begin to grow small "babies" all over the skeleton. Chances are if the coral died away that it will never return, however it is possible that a few remaining cells of tissue withdrew into the skeleton and therefor restart the colony.