Zacks Investment Research upgraded shares of Amarin (NASDAQ:AMRN) from a sell rating to a hold rating in a report published on Tuesday morning.
According to Zacks, “Amarin Corporation plc is a global pharmaceutical group which develops innovative pharmaceutical products across a range of therapeutic areas utilizing its proprietary advanced oral and transdermal drug delivery technologies. “
A number of other equities analysts have also recently commented on AMRN. Cantor Fitzgerald reaffirmed a buy rating and issued a $10.00 target price on shares of Amarin in a report on Thursday, September 14th. Jefferies Group reaffirmed a buy rating on shares of Amarin in a report on Wednesday, October 11th. HC Wainwright reissued a buy rating and set a $10.00 price target on shares of Amarin in a report on Thursday, November 2nd. Finally, ValuEngine raised Amarin from a sell rating to a hold rating in a report on Saturday, November 4th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Amarin presently has an average rating of Buy and a consensus target price of $7.75.
Amarin (AMRN) remained flat at $$4.19 during midday trading on Tuesday. 959,800 shares of the company’s stock traded hands, compared to its average volume of 1,449,067. The stock has a market capitalization of $1,130.00, a P/E ratio of -15.52 and a beta of 0.62. The company has a debt-to-equity ratio of -1.48, a quick ratio of 1.32 and a current ratio of 1.63. Amarin has a 52-week low of $2.81 and a 52-week high of $4.47.
Amarin (NASDAQ:AMRN) last released its quarterly earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.01. The firm had revenue of $47.10 million for the quarter, compared to the consensus estimate of $45.85 million. During the same period in the previous year, the company earned ($0.08) earnings per share. Amarin’s quarterly revenue was up 45.4% compared to the same quarter last year. research analysts anticipate that Amarin will post -0.22 earnings per share for the current fiscal year.
In related news, insider Steven B. Ketchum sold 128,257 shares of Amarin stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $4.25, for a total value of $545,092.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John F. Thero purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was bought at an average price of $3.24 per share, with a total value of $32,400.00. The disclosure for this purchase can be found here. Company insiders own 3.72% of the company’s stock.
Large investors have recently made changes to their positions in the business. Westside Investment Management Inc. boosted its position in shares of Amarin by 1.1% during the second quarter. Westside Investment Management Inc. now owns 27,350 shares of the biopharmaceutical company’s stock valued at $114,000 after buying an additional 300 shares during the period. Wells Fargo & Company MN boosted its position in shares of Amarin by 15.2% during the second quarter. Wells Fargo & Company MN now owns 37,801 shares of the biopharmaceutical company’s stock valued at $152,000 after buying an additional 5,000 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of Amarin during the third quarter valued at approximately $226,000. Stevens Capital Management LP purchased a new position in shares of Amarin during the third quarter valued at approximately $229,000. Finally, TD Asset Management Inc. purchased a new position in shares of Amarin during the third quarter valued at approximately $285,000. Institutional investors and hedge funds own 40.12% of the company’s stock.
Amarin Corporation plc is a biopharmaceutical company with operations in lipid science focused on the commercialization and development of therapeutics for cardiovascular health. The Company operates through the development and commercialization of Vascepa segment. The Company’s lead product, Vascepa (icosapent ethyl) capsule, is approved by the United States Food and Drug Administration (FDA) for use as an adjunct to diet to reduce triglyceride levels in adult patients with severe hypertriglyceridemia.
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