Cantor Fitzgerald set a $10.00 price target on Amarin (NASDAQ:AMRN) in a research report report published on Friday, February 16th. The firm currently has a buy rating on the biopharmaceutical company’s stock.
A number of other equities research analysts have also recently issued reports on the company. Zacks Investment Research upgraded Amarin from a sell rating to a hold rating in a research note on Thursday, February 15th. BidaskClub cut Amarin from a hold rating to a sell rating in a research note on Wednesday, January 31st. Finally, ValuEngine upgraded Amarin from a sell rating to a hold rating in a research note on Wednesday, December 20th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Amarin currently has an average rating of Hold and an average price target of $7.75.
Amarin (AMRN) traded down $0.14 during mid-day trading on Friday, reaching $3.61. The company’s stock had a trading volume of 1,290,000 shares, compared to its average volume of 2,110,000. The company has a debt-to-equity ratio of -1.12, a current ratio of 1.41 and a quick ratio of 1.13. The company has a market capitalization of $1,050.00, a PE ratio of -14.44 and a beta of 0.57. Amarin has a 12 month low of $2.85 and a 12 month high of $4.60.
Amarin (NASDAQ:AMRN) last posted its earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). The business had revenue of $53.87 million during the quarter, compared to the consensus estimate of $52.73 million. The business’s revenue was up 39.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.10) EPS. analysts predict that Amarin will post -0.33 EPS for the current fiscal year.
In related news, insider Steven B. Ketchum sold 135,205 shares of Amarin stock in a transaction dated 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 this link. Also, General Counsel Joseph T. Kennedy sold 44,857 shares of Amarin stock in a transaction dated 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 have sold 426,720 shares of company stock worth $1,814,296. Company insiders own 3.72% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. OppenheimerFunds Inc. raised its stake in shares of Amarin by 20.9% during the fourth quarter. OppenheimerFunds Inc. now owns 7,897,310 shares of the biopharmaceutical company’s stock valued at $31,668,000 after purchasing an additional 1,365,720 shares in the last quarter. Clearbridge LLC grew its holdings in Amarin by 9.8% during the fourth quarter. Clearbridge LLC now owns 4,867,366 shares of the biopharmaceutical company’s stock worth $19,518,000 after acquiring an additional 435,340 shares during the period. Alkeon Capital Management LLC acquired a new position in Amarin during the third quarter worth about $7,875,000. Two Sigma Investments LP grew its holdings in Amarin by 41.1% during the fourth quarter. Two Sigma Investments LP now owns 1,547,977 shares of the biopharmaceutical company’s stock worth $6,207,000 after acquiring an additional 450,755 shares during the period. Finally, Highland Capital Management LP grew its holdings in Amarin by 152.5% during the fourth quarter. Highland Capital Management LP now owns 1,197,000 shares of the biopharmaceutical company’s stock worth $4,800,000 after acquiring an additional 723,000 shares during the period. Institutional investors and hedge funds own 38.20% of the company’s stock.
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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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