LPL Financial LLC increased its position in Amarin Co. (NASDAQ:AMRN) by 12.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 143,642 shares of the biopharmaceutical company’s stock after buying an additional 15,782 shares during the period. LPL Financial LLC’s holdings in Amarin were worth $576,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. OppenheimerFunds Inc. grew its stake in shares of Amarin by 20.9% in the 4th quarter. OppenheimerFunds Inc. now owns 7,897,310 shares of the biopharmaceutical company’s stock valued at $31,668,000 after buying an additional 1,365,720 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in shares of Amarin by 70.9% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 245,510 shares of the biopharmaceutical company’s stock valued at $984,000 after buying an additional 101,860 shares during the period. Two Sigma Investments LP grew its stake in shares of Amarin by 41.1% in the 4th quarter. Two Sigma Investments LP now owns 1,547,977 shares of the biopharmaceutical company’s stock valued at $6,207,000 after buying an additional 450,755 shares during the period. Alps Advisors Inc. acquired a new stake in shares of Amarin in the 4th quarter valued at about $1,203,000. Finally, Neuberger Berman Group LLC acquired a new stake in shares of Amarin in the 3rd quarter valued at about $350,000. Institutional investors own 38.16% of the company’s stock.
AMRN has been the subject of several research reports. Cantor Fitzgerald set a $10.00 target price on Amarin and gave the company a “buy” rating in a research note on Tuesday, February 27th. BidaskClub upgraded Amarin from a “hold” rating to a “buy” rating in a research note on Friday, December 29th. HC Wainwright restated a “buy” rating on shares of Amarin in a research note on Thursday, March 1st. Finally, Zacks Investment Research upgraded Amarin from a “sell” rating to a “hold” rating in a research note on Tuesday, January 2nd. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $7.75.
AMRN stock opened at $3.04 on Tuesday. The stock has a market cap of $885.72, a price-to-earnings ratio of -12.16 and a beta of 0.72. The company has a debt-to-equity ratio of -1.12, a current ratio of 1.41 and a quick ratio of 1.13. Amarin Co. has a 52-week low of $2.82 and a 52-week high of $4.60.
Amarin (NASDAQ:AMRN) last released its quarterly 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 analyst estimates of $52.73 million. The business’s revenue was up 39.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.10) EPS. analysts forecast that Amarin Co. will post -0.33 EPS for the current year.
In other Amarin news, General Counsel Joseph T. Kennedy sold 44,857 shares of Amarin stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $3.73, for a total transaction of $167,316.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Joseph T. Kennedy sold 26,942 shares of Amarin stock in a transaction dated Tuesday, April 3rd. The shares were sold at an average price of $2.90, for a total value of $78,131.80. The disclosure for this sale can be found here. Insiders have sold a total of 258,110 shares of company stock valued at $1,051,237 in the last quarter. Company insiders own 3.72% of the company’s stock.
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Amarin Company Profile
Amarin Corporation plc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for the treatment of cardiovascular diseases in the United States. The company's lead product is Vascepa, a prescription-only omega-3 fatty acid capsule, used as an adjunct to diet for reducing triglyceride levels in adult patients with severe hypertriglyceridemia.
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