Shares of Amarin Co. plc (NASDAQ:AMRN) have been assigned an average rating of “Buy” from the seven brokerages that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $23.75.
Several research firms have weighed in on AMRN. Zacks Investment Research raised shares of Amarin from a “sell” rating to a “hold” rating in a research note on Wednesday, August 8th. Cantor Fitzgerald set a $10.00 price target on shares of Amarin and gave the stock a “buy” rating in a research note on Wednesday, August 1st. ValuEngine downgraded shares of Amarin from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. BidaskClub raised shares of Amarin from a “sell” rating to a “hold” rating in a research note on Wednesday, August 29th. Finally, HC Wainwright reissued a “buy” rating and issued a $20.00 price target (up from $10.00) on shares of Amarin in a research note on Tuesday, September 25th.
In other news, insider Steven B. Ketchum sold 879,241 shares of the company’s stock in a transaction dated Tuesday, September 25th. The shares were sold at an average price of $11.10, for a total transaction of $9,759,575.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael Wayne Kalb sold 150,000 shares of the company’s stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $10.42, for a total transaction of $1,563,000.00. The disclosure for this sale can be found here. Insiders sold 2,975,800 shares of company stock valued at $33,975,779 over the last three months. 4.08% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the company. GSA Capital Partners LLP raised its stake in shares of Amarin by 66.3% during the second quarter. GSA Capital Partners LLP now owns 162,800 shares of the biopharmaceutical company’s stock valued at $503,000 after acquiring an additional 64,900 shares during the last quarter. Alps Advisors Inc. purchased a new position in shares of Amarin during the second quarter valued at about $1,317,000. TD Asset Management Inc. increased its position in shares of Amarin by 54.4% during the second quarter. TD Asset Management Inc. now owns 134,207 shares of the biopharmaceutical company’s stock valued at $415,000 after buying an additional 47,300 shares during the period. FMR LLC increased its position in shares of Amarin by 57.7% during the second quarter. FMR LLC now owns 5,335,221 shares of the biopharmaceutical company’s stock valued at $16,486,000 after buying an additional 1,952,118 shares during the period. Finally, A.R.T. Advisors LLC increased its position in shares of Amarin by 205.3% during the first quarter. A.R.T. Advisors LLC now owns 342,285 shares of the biopharmaceutical company’s stock valued at $1,030,000 after buying an additional 230,185 shares during the period. 38.27% of the stock is owned by hedge funds and other institutional investors.
NASDAQ AMRN opened at $20.63 on Thursday. Amarin has a 52-week low of $2.35 and a 52-week high of $21.05. The company has a quick ratio of 1.13, a current ratio of 1.43 and a debt-to-equity ratio of -1.25. The firm has a market cap of $4.76 billion, a PE ratio of -82.52 and a beta of 0.32.
Amarin (NASDAQ:AMRN) last posted its quarterly earnings results on Wednesday, August 1st. The biopharmaceutical company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The business had revenue of $52.64 million for the quarter, compared to analyst estimates of $54.88 million. The firm’s revenue was up 16.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.04) earnings per share. On average, equities analysts expect that Amarin will post -0.42 EPS for the current year.
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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