Cantor Fitzgerald set a $10.00 price objective on Amarin (NASDAQ:AMRN) in a report released on Monday morning. The firm currently has a buy rating on the biopharmaceutical company’s stock.
A number of other research analysts have also recently weighed in on AMRN. BidaskClub upgraded shares of Amarin from a strong sell rating to a sell rating in a research report on Friday, May 4th. ValuEngine upgraded shares of Amarin from a sell rating to a hold rating in a research report on Wednesday, May 2nd. Zacks Investment Research raised shares of Amarin from a sell rating to a hold rating in a research note on Monday, May 7th. Finally, HC Wainwright reissued a buy rating on shares of Amarin in a research note on Thursday, March 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $7.75.
Amarin opened at $3.20 on Monday, MarketBeat reports. The company has a quick ratio of 1.45, a current ratio of 1.74 and a debt-to-equity ratio of -2.30. Amarin has a twelve month low of $3.17 and a twelve month high of $3.20.
Amarin (NASDAQ:AMRN) last posted its quarterly earnings data on Wednesday, May 2nd. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.08). The firm had revenue of $43.80 million for the quarter, compared to the consensus estimate of $43.75 million. During the same quarter last year, the firm earned ($0.08) EPS. The company’s revenue was up 26.6% on a year-over-year basis. equities research analysts forecast that Amarin will post -0.38 earnings per share for the current year.
In other news, General Counsel Joseph T. Kennedy sold 26,942 shares of the business’s stock in a transaction on Tuesday, April 3rd. The shares were sold at an average price of $2.90, for a total transaction of $78,131.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.08% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of AMRN. Farallon Capital Management LLC purchased a new stake in shares of Amarin during the first quarter valued at $13,726,000. Sofinnova Ventures Inc purchased a new stake in shares of Amarin during the first quarter valued at $9,998,000. OppenheimerFunds Inc. boosted 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 during the period. Opaleye Management Inc. boosted its stake in shares of Amarin by 102.9% during the first quarter. Opaleye Management Inc. now owns 1,745,000 shares of the biopharmaceutical company’s stock valued at $5,252,000 after purchasing an additional 885,000 shares during the period. Finally, Highland Capital Management LP boosted its stake in shares of Amarin by 152.5% during the fourth quarter. Highland Capital Management LP now owns 1,197,000 shares of the biopharmaceutical company’s stock valued at $4,800,000 after purchasing an additional 723,000 shares during the period. 38.07% of the stock is owned by hedge funds and other institutional investors.
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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