Amarin (AMRN) Lowered to Hold at BidaskClub

BidaskClub lowered shares of Amarin (NASDAQ:AMRN) from a buy rating to a hold rating in a report released on Thursday, January 18th.

Other equities analysts have also recently issued research reports about the stock. ValuEngine upgraded shares of Amarin from a sell rating to a hold rating in a research report on Saturday, November 4th. Zacks Investment Research cut shares of Amarin from a hold rating to a sell rating in a research report on Tuesday, December 12th. HC Wainwright restated a buy rating and set a $10.00 target price on shares of Amarin in a research report on Thursday, November 2nd. Cantor Fitzgerald reiterated a buy rating and set a $10.00 price target on shares of Amarin in a report on Tuesday, September 26th. Finally, Jefferies Group reiterated a buy rating on shares of Amarin in a report on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. Amarin has a consensus rating of Hold and a consensus target price of $7.75.

Shares of Amarin (NASDAQ AMRN) remained flat at $$3.48 during midday trading on Thursday. 1,804,739 shares of the stock traded hands, compared to its average volume of 2,580,000. The company has a debt-to-equity ratio of -1.48, a current ratio of 1.63 and a quick ratio of 1.32. Amarin has a one year low of $2.85 and a one year high of $4.60. The stock has a market cap of $942.66, a price-to-earnings ratio of -12.89 and a beta of 0.50.

In other Amarin news, insider Steven B. Ketchum sold 135,205 shares of Amarin stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $4.41, for a total transaction of $596,254.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Joseph T. Kennedy sold 44,857 shares of Amarin stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $3.73, for a total transaction of $167,316.61. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 426,720 shares of company stock valued at $1,814,296. 3.72% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. TD Asset Management Inc. acquired a new position in shares of Amarin during the third quarter worth $285,000. Intrinsic Edge Capital Management LLC acquired a new position in shares of Amarin during the second quarter worth $725,000. OxFORD Asset Management LLP lifted its position in shares of Amarin by 114.2% during the second quarter. OxFORD Asset Management LLP now owns 135,773 shares of the biopharmaceutical company’s stock worth $547,000 after purchasing an additional 72,390 shares in the last quarter. Alkeon Capital Management LLC acquired a new position in shares of Amarin during the third quarter worth $7,875,000. Finally, Neuberger Berman Group LLC acquired a new position in shares of Amarin during the third quarter worth $350,000. 40.14% of the stock is currently owned by hedge funds and other institutional investors.

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About Amarin

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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