Amarin (NASDAQ:AMRN) has been assigned a $10.00 price objective by stock analysts at Cantor Fitzgerald in a research note issued on Tuesday, January 23rd. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price suggests a potential upside of 175.48% from the stock’s previous close.
Other equities research analysts also recently issued reports about the stock. ValuEngine downgraded shares of Amarin from a “hold” rating to a “sell” rating in a research note on Thursday, November 16th. BidaskClub upgraded shares of Amarin from a “hold” rating to a “buy” rating in a research note on Friday, December 29th. Zacks Investment Research downgraded shares of Amarin from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. HC Wainwright restated a “buy” rating and issued a $10.00 price target on shares of Amarin in a research note on Thursday, November 2nd. Finally, Jefferies Group reiterated a “buy” rating on shares of Amarin in a research 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 stock. The stock currently has a consensus rating of “Hold” and an average target price of $7.75.
Amarin (AMRN) traded up $0.10 on Tuesday, hitting $3.63. 1,276,924 shares of the stock were exchanged, compared to its average volume of 2,540,448. Amarin has a one year low of $2.85 and a one year high of $4.60. The company has a current ratio of 1.63, a quick ratio of 1.32 and a debt-to-equity ratio of -1.48. The firm has a market cap of $963.71, a P/E ratio of -13.44 and a beta of 0.50.
In related news, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John F. Thero bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were acquired at an average price of $3.24 per share, for a total transaction of $32,400.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 426,720 shares of company stock worth $1,814,296. 3.72% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of the stock. Westside Investment Management Inc. lifted its position in shares of Amarin by 1.1% in the 2nd quarter. Westside Investment Management Inc. now owns 27,350 shares of the biopharmaceutical company’s stock worth $114,000 after purchasing an additional 300 shares during the period. State Street Corp lifted its position in shares of Amarin by 1.3% in the 2nd quarter. State Street Corp now owns 201,995 shares of the biopharmaceutical company’s stock worth $814,000 after purchasing an additional 2,640 shares during the period. Wells Fargo & Company MN lifted its position in shares of Amarin by 15.2% in the 2nd quarter. Wells Fargo & Company MN now owns 37,801 shares of the biopharmaceutical company’s stock worth $152,000 after purchasing an additional 5,000 shares during the period. Paloma Partners Management Co acquired a new position in shares of Amarin in the 4th quarter worth approximately $141,000. Finally, Dynamic Technology Lab Private Ltd lifted its position in shares of Amarin by 94.2% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 87,104 shares of the biopharmaceutical company’s stock worth $351,000 after purchasing an additional 42,246 shares during the period. Institutional investors and hedge funds own 40.26% 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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