Amarin (NASDAQ:AMRN)‘s stock had its “buy” rating reaffirmed by equities research analysts at Cantor Fitzgerald in a report issued on Friday. They currently have a $35.00 price target on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 94.55% from the company’s previous close.
The analysts wrote, “We think the peak sales potential of Vascepa is underappreciated. Therefore, upward earnings revisions to levels not reflected in FactSet consensus expectations should drive AMRN shares higher. Valuation Summary We continue to use a blend of DCF and multiples (EV/EBITDA) analysis to get to our 12-month price target of $35.””
Other equities research analysts also recently issued research reports about the company. BidaskClub downgraded Amarin from a “buy” rating to a “hold” rating in a research report on Thursday, November 8th. HC Wainwright reissued a “buy” rating and set a $20.00 price target (up previously from $10.00) on shares of Amarin in a research report on Tuesday, September 25th. SunTrust Banks increased their price target on Amarin to $30.00 and gave the stock a “reduce” rating in a research report on Monday, November 5th. Jefferies Financial Group increased their price target on Amarin from $7.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, September 25th. Finally, ValuEngine raised Amarin from a “buy” rating to a “strong-buy” rating in a research report on Monday, September 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $31.80.
NASDAQ:AMRN opened at $17.99 on Friday. The company has a market capitalization of $4.95 billion, a price-to-earnings ratio of -71.96 and a beta of 0.65. Amarin has a 12-month low of $2.35 and a 12-month high of $23.33.
Amarin (NASDAQ:AMRN) last announced its earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.01. The firm had revenue of $55.00 million for the quarter, compared to the consensus estimate of $60.63 million. Amarin’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.04) EPS. On average, equities research analysts forecast that Amarin will post -0.36 EPS for the current fiscal year.
In other news, CFO Michael Wayne Kalb sold 150,000 shares of the stock in a transaction on Monday, September 24th. The stock was sold at an average price of $10.42, for a total value of $1,563,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven B. Ketchum sold 17,042 shares of the stock in a transaction on Friday, November 30th. The shares were sold at an average price of $17.79, for a total value of $303,177.18. The disclosure for this sale can be found here. Insiders sold a total of 3,664,108 shares of company stock valued at $47,118,016 over the last quarter. 4.08% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in AMRN. Signature Estate & Investment Advisors LLC bought a new position in Amarin during the 3rd quarter worth $137,000. BKS Advisors LLC bought a new position in shares of Amarin in the 3rd quarter worth about $162,000. First Republic Investment Management Inc. bought a new position in shares of Amarin in the 3rd quarter worth about $163,000. Laurel Wealth Advisors Inc. bought a new position in shares of Amarin in the 3rd quarter worth about $170,000. Finally, Credit Suisse AG bought a new position in shares of Amarin in the 3rd quarter worth about $198,000. 47.31% of the stock is owned by institutional investors and hedge funds.
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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