Amarin (NASDAQ:AMRN) had its price objective hoisted by research analysts at Citigroup from $5.00 to $17.00 in a research note issued on Tuesday, The Fly reports. The firm presently has a “reduce” rating on the biopharmaceutical company’s stock. Citigroup’s price target indicates a potential upside of 26.39% from the stock’s previous close.
AMRN has been the subject of a number of other reports. Zacks Investment Research downgraded shares of Amarin from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. ValuEngine downgraded shares of Amarin from a “buy” rating to a “hold” rating in a research note on Saturday, July 28th. Cantor Fitzgerald reissued a “buy” rating and issued a $10.00 price target on shares of Amarin in a research note on Monday. Finally, BidaskClub downgraded shares of Amarin from a “hold” rating to a “sell” rating in a research note on Tuesday, September 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $13.20.
Shares of NASDAQ:AMRN opened at $13.45 on Tuesday. The company has a debt-to-equity ratio of -1.25, a quick ratio of 1.13 and a current ratio of 1.43. Amarin has a 12 month low of $2.35 and a 12 month high of $14.64.
Amarin (NASDAQ:AMRN) last released its quarterly earnings results on Wednesday, August 1st. The biopharmaceutical company reported ($0.12) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.03). The company had revenue of $52.64 million for the quarter, compared to the consensus estimate of $54.88 million. During the same period in the prior year, the firm posted ($0.04) earnings per share. Amarin’s quarterly revenue was up 16.4% compared to the same quarter last year. analysts forecast that Amarin will post -0.38 EPS for the current fiscal year.
In related news, insider Steven B. Ketchum sold 879,241 shares of the stock in a transaction dated 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 available through this hyperlink. Also, CFO Michael Wayne Kalb sold 150,000 shares of the stock in a transaction dated Monday, September 24th. The stock was 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. Over the last three months, insiders sold 2,635,889 shares of company stock valued at $28,105,096. 4.08% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. FMR LLC grew its holdings in Amarin by 57.7% in the second quarter. FMR LLC now owns 5,335,221 shares of the biopharmaceutical company’s stock worth $16,486,000 after purchasing an additional 1,952,118 shares during the period. Farallon Capital Management LLC purchased a new stake in Amarin in the first quarter worth about $13,726,000. Rock Springs Capital Management LP grew its holdings in Amarin by 1.3% in the first quarter. Rock Springs Capital Management LP now owns 4,000,000 shares of the biopharmaceutical company’s stock worth $12,040,000 after purchasing an additional 50,000 shares during the period. BlackRock Inc. grew its holdings in Amarin by 1.4% in the second quarter. BlackRock Inc. now owns 3,392,430 shares of the biopharmaceutical company’s stock worth $10,482,000 after purchasing an additional 46,957 shares during the period. Finally, Sofinnova Ventures Inc purchased a new stake in Amarin in the first quarter worth about $9,998,000. 38.27% of the stock is owned by institutional investors.
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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