Amarin Co. plc (NASDAQ:AMRN) insider Steven B. Ketchum sold 17,042 shares of the company’s stock in a transaction on Wednesday, October 31st. The stock was sold at an average price of $20.74, for a total transaction of $353,451.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Shares of AMRN opened at $22.87 on Friday. Amarin Co. plc has a 52-week low of $2.35 and a 52-week high of $23.10.
Amarin (NASDAQ:AMRN) last announced its quarterly earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.08) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.01. The company had revenue of $55.00 million during the quarter, compared to analysts’ expectations of $60.63 million. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.04) EPS. As a group, analysts expect that Amarin Co. plc will post -0.42 EPS for the current fiscal year.
A number of brokerages have commented on AMRN. Zacks Investment Research upgraded shares of Amarin from a “sell” rating to a “hold” rating in a research report on Wednesday, August 8th. Cantor Fitzgerald set a $10.00 price objective on shares of Amarin and gave the stock a “buy” rating in a research report on Wednesday, August 1st. BidaskClub upgraded shares of Amarin from a “sell” rating to a “hold” rating in a research report on Wednesday, August 29th. HC Wainwright restated a “buy” rating and set a $20.00 price objective (up previously from $10.00) on shares of Amarin in a research report on Tuesday, September 25th. Finally, Jefferies Financial Group upped their price objective on shares of Amarin from $7.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, September 25th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $27.25.
Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC increased its holdings in shares of Amarin by 57.7% in the 2nd quarter. FMR LLC now owns 5,335,221 shares of the biopharmaceutical company’s stock valued at $16,486,000 after purchasing an additional 1,952,118 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Amarin by 1.4% in the 2nd quarter. BlackRock Inc. now owns 3,392,430 shares of the biopharmaceutical company’s stock valued at $10,482,000 after purchasing an additional 46,957 shares in the last quarter. EULAV Asset Management purchased a new position in shares of Amarin in the 3rd quarter valued at about $15,456,000. Alps Advisors Inc. increased its holdings in shares of Amarin by 21.9% in the 3rd quarter. Alps Advisors Inc. now owns 519,534 shares of the biopharmaceutical company’s stock valued at $8,453,000 after purchasing an additional 93,448 shares in the last quarter. Finally, Frontier Capital Management Co. LLC purchased a new position in shares of Amarin in the 3rd quarter valued at about $6,017,000. Institutional investors and hedge funds own 39.09% of the company’s stock.
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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