Shares of Amarin Co. plc (NASDAQ:AMRN) were down 6% on Friday . The company traded as low as $16.68 and last traded at $16.91. Approximately 5,758,530 shares changed hands during trading, a decline of 15% from the average daily volume of 6,781,638 shares. The stock had previously closed at $17.99.
A number of analysts have recently weighed in on AMRN shares. BidaskClub raised shares of Amarin from a “sell” rating to a “hold” rating in a research report on Wednesday, August 29th. Cantor Fitzgerald set a $10.00 price objective on shares of Amarin and gave the stock a “buy” rating in a report on Wednesday, September 12th. ValuEngine raised shares of Amarin from a “buy” rating to a “strong-buy” rating in a report on Monday, September 24th. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price objective (up previously from $10.00) on shares of Amarin in a report on Tuesday, September 25th. Finally, Jefferies Financial Group lifted their price objective on shares of Amarin from $7.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, September 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Amarin has a consensus rating of “Buy” and a consensus price target of $31.80.
The firm has a market capitalization of $4.95 billion, a P/E ratio of -67.64 and a beta of 0.65.
Amarin (NASDAQ:AMRN) last released its quarterly earnings data on Thursday, November 1st. The biopharmaceutical company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. The business had revenue of $55.00 million during the quarter, compared to analyst estimates 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 period in the prior year, the firm earned ($0.04) EPS. Analysts anticipate that Amarin Co. plc will post -0.36 EPS for the current year.
In other Amarin news, insider Steven B. Ketchum sold 879,241 shares of Amarin stock in a transaction on Tuesday, September 25th. The shares were sold at an average price of $11.10, for a total value of $9,759,575.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Joseph T. Kennedy sold 23,307 shares of Amarin stock in a transaction on Wednesday, October 31st. The stock was sold at an average price of $20.74, for a total transaction of $483,387.18. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,664,108 shares of company stock valued at $47,118,016. 4.08% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the business. Baker BROS. Advisors LP lifted its stake in Amarin by 50.3% in the third quarter. Baker BROS. Advisors LP now owns 34,069,509 shares of the biopharmaceutical company’s stock valued at $554,311,000 after buying an additional 11,400,000 shares during the last quarter. Oracle Investment Management Inc. lifted its stake in Amarin by 11.2% in the third quarter. Oracle Investment Management Inc. now owns 5,850,151 shares of the biopharmaceutical company’s stock valued at $95,182,000 after buying an additional 588,813 shares during the last quarter. FMR LLC lifted its stake in Amarin by 57.7% in 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 last quarter. Clearbridge Investments LLC lifted its stake in Amarin by 704,126.6% in the third quarter. Clearbridge Investments LLC now owns 3,704,232 shares of the biopharmaceutical company’s stock valued at $60,268,000 after buying an additional 3,703,706 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in Amarin by 0.3% in the third quarter. BlackRock Inc. now owns 3,403,454 shares of the biopharmaceutical company’s stock valued at $55,374,000 after buying an additional 11,024 shares during the last quarter. Institutional investors own 47.31% of the company’s stock.
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About Amarin (NASDAQ:AMRN)
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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