Amarin Corporation PLC (AMRN) Rating Increased to Hold at ValuEngine

Amarin Corporation PLC (NASDAQ:AMRN) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a report issued on Thursday, August 31st.

A number of other analysts also recently issued reports on AMRN. Zacks Investment Research downgraded Amarin Corporation PLC from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. BidaskClub downgraded Amarin Corporation PLC from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. HC Wainwright reissued a “buy” rating and set a $10.00 target price on shares of Amarin Corporation PLC in a research report on Wednesday, August 9th. Cantor Fitzgerald set a $10.00 target price on Amarin Corporation PLC and gave the company a “buy” rating in a research report on Monday, August 14th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $7.00 target price on shares of Amarin Corporation PLC in a research report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $7.35.

Amarin Corporation PLC (NASDAQ AMRN) traded up 0.30% on Thursday, hitting $3.37. 2,383,190 shares of the company traded hands. The firm’s market capitalization is $912.57 million. The firm’s 50 day moving average price is $3.28 and its 200 day moving average price is $3.31. Amarin Corporation PLC has a 1-year low of $2.56 and a 1-year high of $4.47.

Amarin Corporation PLC (NASDAQ:AMRN) last released its quarterly earnings data on Wednesday, August 2nd. The biopharmaceutical company reported ($0.05) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.01. The firm had revenue of $44.95 million during the quarter, compared to the consensus estimate of $40.35 million. During the same period in the previous year, the firm earned ($0.07) EPS. The business’s revenue was up 37.0% compared to the same quarter last year. Equities research analysts predict that Amarin Corporation PLC will post ($0.21) EPS for the current fiscal year.

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In related news, General Counsel Joseph T. Kennedy sold 307,911 shares of the business’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $4.00, for a total transaction of $1,231,644.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.72% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN boosted its holdings in Amarin Corporation PLC by 4.8% during the 1st quarter. Wells Fargo & Company MN now owns 32,801 shares of the biopharmaceutical company’s stock valued at $105,000 after acquiring an additional 1,500 shares during the period. JPMorgan Chase & Co. boosted its holdings in Amarin Corporation PLC by 27.1% during the 1st quarter. JPMorgan Chase & Co. now owns 35,590 shares of the biopharmaceutical company’s stock valued at $114,000 after acquiring an additional 7,580 shares during the period. Westside Investment Management Inc. boosted its holdings in Amarin Corporation PLC by 1.1% during the 2nd quarter. Westside Investment Management Inc. now owns 27,350 shares of the biopharmaceutical company’s stock valued at $114,000 after acquiring an additional 300 shares during the period. Private Advisor Group LLC boosted its holdings in Amarin Corporation PLC by 2.1% during the 1st quarter. Private Advisor Group LLC now owns 50,170 shares of the biopharmaceutical company’s stock valued at $157,000 after acquiring an additional 1,032 shares during the period. Finally, Perkins Capital Management Inc. boosted its holdings in Amarin Corporation PLC by 20.3% during the 2nd quarter. Perkins Capital Management Inc. now owns 41,500 shares of the biopharmaceutical company’s stock valued at $167,000 after acquiring an additional 7,000 shares during the period. Institutional investors own 37.76% of the company’s stock.

About Amarin Corporation PLC

Amarin Corporation plc is a biopharmaceutical company with operations in lipid science focused on the commercialization and development of therapeutics for cardiovascular health. The Company operates through the development and commercialization of Vascepa segment. The Company’s lead product, Vascepa (icosapent ethyl) capsule, is approved by the United States Food and Drug Administration (FDA) for use as an adjunct to diet to reduce triglyceride levels in adult patients with severe hypertriglyceridemia.

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