Zacks Research upgraded shares of Amarin (NASDAQ:AMRN – Free Report) from a hold rating to a strong-buy rating in a research note released on Monday,Zacks reports.
A number of other equities analysts have also recently commented on AMRN. Weiss Ratings reissued a “sell (d-)” rating on shares of Amarin in a report on Friday, July 17th. JPMorgan Chase & Co. began coverage on Amarin in a research note on Friday, August 21st. They issued an “underweight” rating and a $13.00 price objective on the stock. Finally, Wall Street Zen cut Amarin from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Sell rating to the stock. According to MarketBeat, Amarin has an average rating of “Hold” and an average price target of $13.00.
Read Our Latest Stock Analysis on Amarin
Amarin Price Performance
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its position in Amarin by 197.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,576 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 1,046 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Amarin in the 1st quarter worth approximately $278,000. Waterfront Wealth Inc. lifted its position in shares of Amarin by 42.7% in the 1st quarter. Waterfront Wealth Inc. now owns 203,338 shares of the biopharmaceutical company’s stock worth $2,940,000 after purchasing an additional 60,798 shares during the period. Eversept Partners LP boosted its stake in shares of Amarin by 2.9% in the 4th quarter. Eversept Partners LP now owns 172,188 shares of the biopharmaceutical company’s stock valued at $2,403,000 after purchasing an additional 4,912 shares during the last quarter. Finally, Brooklands Fund Management Ltd bought a new stake in shares of Amarin in the 4th quarter valued at $42,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.
About Amarin
Amarin Corporation plc (NASDAQ:AMRN) is a biopharmaceutical company focused on developing and commercializing therapies for cardiovascular disease. The company’s primary product is icosapent ethyl, an omega-3 fatty acid formulation derived from eicosapentaenoic acid (EPA).
In the United States, icosapent ethyl is marketed as Vascepa and is approved as an adjunct to diet for certain patients with elevated triglyceride levels. It is also approved to reduce the risk of cardiovascular events, such as heart attack and stroke, in specified high-risk adult patients.
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