Amarin (NASDAQ:AMRN) Shares Gap Down to $14.77

Shares of Amarin Co. plc (NASDAQ:AMRN) gapped down prior to trading on Monday . The stock had previously closed at $14.90, but opened at $14.77. Amarin shares last traded at $14.06, with a volume of 398,545 shares changing hands.

Several research firms recently issued reports on AMRN. Jefferies Financial Group reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Amarin in a research note on Tuesday, July 9th. HC Wainwright reaffirmed a “buy” rating on shares of Amarin in a research note on Thursday, August 1st. Roth Capital began coverage on shares of Amarin in a research note on Monday, June 17th. They issued a “buy” rating and a $31.00 price objective for the company. Zacks Investment Research lowered shares of Amarin from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $26.00 price objective on shares of Amarin in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Amarin has an average rating of “Buy” and an average price target of $30.38.

The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.76 and a current ratio of 2.01. The firm’s 50 day simple moving average is $19.21. The firm has a market capitalization of $6.36 billion, a price-to-earnings ratio of -35.62 and a beta of 1.15.

Amarin (NASDAQ:AMRN) last released its earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.01. The firm had revenue of $100.40 million during the quarter, compared to analyst estimates of $99.54 million. Amarin had a negative net margin of 27.51% and a negative return on equity of 111.75%. The business’s revenue was up 90.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.10) EPS. As a group, research analysts expect that Amarin Co. plc will post -0.2 EPS for the current fiscal year.

In other Amarin news, insider Aaron Berg sold 113,195 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $18.59, for a total transaction of $2,104,295.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph S. Zakrzewski sold 100,000 shares of the business’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $23.82, for a total transaction of $2,382,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 642,388 shares of company stock valued at $13,041,271. Company insiders own 2.75% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Rubric Capital Management LP lifted its position in Amarin by 67.2% during the 1st quarter. Rubric Capital Management LP now owns 2,250,000 shares of the biopharmaceutical company’s stock worth $46,710,000 after acquiring an additional 904,624 shares during the last quarter. EULAV Asset Management lifted its position in Amarin by 12.3% during the 2nd quarter. EULAV Asset Management now owns 1,740,000 shares of the biopharmaceutical company’s stock worth $33,739,000 after acquiring an additional 190,000 shares during the last quarter. Federated Investors Inc. PA lifted its position in Amarin by 56.9% during the 1st quarter. Federated Investors Inc. PA now owns 1,612,324 shares of the biopharmaceutical company’s stock worth $33,472,000 after acquiring an additional 585,000 shares during the last quarter. Frontier Capital Management Co. LLC lifted its position in Amarin by 395.7% during the 1st quarter. Frontier Capital Management Co. LLC now owns 1,021,731 shares of the biopharmaceutical company’s stock worth $21,211,000 after acquiring an additional 815,616 shares during the last quarter. Finally, C WorldWide Group Holding A S increased its holdings in shares of Amarin by 20.3% during the 1st quarter. C WorldWide Group Holding A S now owns 761,329 shares of the biopharmaceutical company’s stock worth $15,805,000 after purchasing an additional 128,463 shares during the period. 47.67% of the stock is owned by hedge funds and other institutional investors.

Amarin Company Profile (NASDAQ:AMRN)

Amarin Corp. Plc is a biopharmaceutical company, which focuses on the commercialization and development of therapeutics for cardiovascular health. Its product development program leverages its experience in lipid science and the potential therapeutic benefits of polyunsaturated fatty acids. It has developed and markets Vascepa capsules through wholesale.

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