A number of other equities analysts also recently issued reports on AMRN. Cantor Fitzgerald set a $35.00 price objective on shares of Amarin and gave the stock a buy rating in a report on Tuesday, September 3rd. HC Wainwright reaffirmed a buy rating on shares of Amarin in a report on Thursday, August 1st. Zacks Investment Research downgraded shares of Amarin from a buy rating to a hold rating in a report on Wednesday, July 24th. Roth Capital set a $31.00 price target on shares of Amarin and gave the company a buy rating in a report on Friday, September 6th. Finally, Svb Leerink started coverage on shares of Amarin in a report on Wednesday, August 14th. They set an outperform rating and a $26.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. Amarin has an average rating of Buy and a consensus target price of $28.18.
AMRN opened at $16.13 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.01 and a quick ratio of 1.76. The company’s 50 day moving average is $15.65 and its 200 day moving average is $17.61. Amarin has a 12-month low of $11.78 and a 12-month high of $23.91.
Amarin (NASDAQ:AMRN) last posted its quarterly earnings data on Wednesday, July 31st. The biopharmaceutical company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The company had revenue of $100.40 million for the quarter, compared to the consensus estimate of $99.54 million. Amarin had a negative net margin of 27.51% and a negative return on equity of 111.75%. The firm’s revenue was up 90.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.10) earnings per share. Equities analysts forecast that Amarin will post -0.2 earnings per share for the current year.
In other news, Director Lars Ekman sold 91,016 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $15.01, for a total value of $1,366,150.16. Following the transaction, the director now owns 13,500 shares of the company’s stock, valued at $202,635. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.75% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in AMRN. Invesco Ltd. lifted its holdings in shares of Amarin by 1,402.6% in the second quarter. Invesco Ltd. now owns 8,414,943 shares of the biopharmaceutical company’s stock worth $163,166,000 after buying an additional 7,854,902 shares in the last quarter. Pictet Asset Management Ltd. purchased a new position in shares of Amarin in the second quarter worth $27,928,000. Farallon Capital Management LLC lifted its holdings in shares of Amarin by 30.8% in the second quarter. Farallon Capital Management LLC now owns 4,250,000 shares of the biopharmaceutical company’s stock worth $82,408,000 after buying an additional 1,000,000 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Amarin by 28.9% in the second quarter. Morgan Stanley now owns 1,639,098 shares of the biopharmaceutical company’s stock worth $31,782,000 after buying an additional 367,369 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS purchased a new position in shares of Amarin in the second quarter worth $4,224,000. 45.71% of the stock is currently owned by hedge funds and other institutional investors.
Amarin Company Profile
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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