Amarin Co. plc (AMRN) CFO Michael Wayne Kalb Sells 150,000 Shares

Amarin Co. plc (NASDAQ:AMRN) CFO Michael Wayne Kalb sold 150,000 shares of the company’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $10.42, for a total value of $1,563,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of NASDAQ AMRN traded up $0.45 during mid-day trading on Wednesday, hitting $13.45. 42,096,900 shares of the company traded hands, compared to its average volume of 4,202,461. Amarin Co. plc has a 1 year low of $2.35 and a 1 year high of $14.64. The company has a market cap of $3.62 billion, a price-to-earnings ratio of -53.80 and a beta of 0.95. The company has a quick ratio of 1.13, a current ratio of 1.43 and a debt-to-equity ratio of -1.25.

Amarin (NASDAQ:AMRN) last announced its earnings results on Wednesday, August 1st. The biopharmaceutical company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The firm had revenue of $52.64 million during the quarter, compared to analyst estimates of $54.88 million. During the same period last year, the company posted ($0.04) earnings per share. The firm’s revenue was up 16.4% compared to the same quarter last year. sell-side analysts expect that Amarin Co. plc will post -0.42 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Northern Trust Corp lifted its holdings in shares of Amarin by 20.9% during the second quarter. Northern Trust Corp now owns 113,327 shares of the biopharmaceutical company’s stock valued at $350,000 after purchasing an additional 19,590 shares during the last quarter. DRW Securities LLC lifted its holdings in shares of Amarin by 45.1% during the first quarter. DRW Securities LLC now owns 80,400 shares of the biopharmaceutical company’s stock valued at $242,000 after purchasing an additional 25,000 shares during the last quarter. Private Advisor Group LLC lifted its holdings in shares of Amarin by 81.8% during the first quarter. Private Advisor Group LLC now owns 64,293 shares of the biopharmaceutical company’s stock valued at $194,000 after purchasing an additional 28,929 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Amarin by 1.4% during the second 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 during the last quarter. Finally, TD Asset Management Inc. lifted its holdings in shares of Amarin by 54.4% during the second quarter. TD Asset Management Inc. now owns 134,207 shares of the biopharmaceutical company’s stock valued at $415,000 after purchasing an additional 47,300 shares during the last quarter. 38.27% of the stock is owned by institutional investors and hedge funds.

AMRN has been the subject of several research analyst reports. Zacks Investment Research lowered Amarin from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. ValuEngine lowered Amarin from a “buy” rating to a “hold” rating in a report on Saturday, July 28th. Cantor Fitzgerald restated a “buy” rating and issued a $10.00 price objective on shares of Amarin in a report on Monday. Citigroup upped their price objective on Amarin from $5.00 to $17.00 and gave the company a “reduce” rating in a report on Tuesday. Finally, Jefferies Financial Group upped their price objective on Amarin from $7.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $13.20.

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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