Amarin (NASDAQ:AMRN) had its target price increased by equities researchers at Citigroup to $17.00 in a note issued to investors on Tuesday, The Fly reports. The brokerage currently has a “reduce” rating on the biopharmaceutical company’s stock. Citigroup’s price target points to a potential upside of 37.10% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Zacks Investment Research raised Amarin from a “sell” rating to a “hold” rating in a research note on Wednesday, August 8th. Cantor Fitzgerald set a $10.00 target price on Amarin and gave the company a “buy” rating in a research note on Wednesday, August 1st. ValuEngine raised Amarin from a “hold” rating to a “buy” rating in a research note on Thursday, May 31st. Finally, BidaskClub raised Amarin from a “sell” rating to a “hold” rating in a research note on Wednesday, May 30th. One research 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. The stock has a consensus rating of “Buy” and an average target price of $12.75.

NASDAQ:AMRN opened at $12.40 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 fifty-two week low of $2.35 and a fifty-two week high of $12.47. The stock has a market cap of $874.03 million, a price-to-earnings ratio of -49.60 and a beta of 0.94.

Amarin (NASDAQ:AMRN) last released its earnings results on Wednesday, August 1st. The biopharmaceutical company reported ($0.12) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.03). The business had revenue of $52.64 million during the quarter, compared to the consensus estimate of $54.88 million. During the same quarter in the previous year, the business posted ($0.04) earnings per share. Amarin’s quarterly revenue was up 16.4% on a year-over-year basis. equities analysts forecast that Amarin will post -0.42 earnings per share for the current fiscal year.

In related news, General Counsel Joseph T. Kennedy sold 26,942 shares of the business’s stock in a transaction that occurred on Monday, July 2nd. The stock was sold at an average price of $3.00, for a total value of $80,826.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.08% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Private Advisor Group LLC grew its stake in shares of Amarin by 81.8% in the 1st quarter. Private Advisor Group LLC now owns 64,293 shares of the biopharmaceutical company’s stock valued at $194,000 after buying an additional 28,929 shares in the last quarter. DRW Securities LLC grew its stake in shares of Amarin by 45.1% in the 1st quarter. DRW Securities LLC now owns 80,400 shares of the biopharmaceutical company’s stock valued at $242,000 after buying an additional 25,000 shares in the last quarter. Claraphi Advisory Network LLC grew its stake in shares of Amarin by 637.3% in the 1st quarter. Claraphi Advisory Network LLC now owns 85,309 shares of the biopharmaceutical company’s stock valued at $257,000 after buying an additional 73,738 shares in the last quarter. Northern Trust Corp grew its stake in shares of Amarin by 20.9% in the 2nd quarter. Northern Trust Corp now owns 113,327 shares of the biopharmaceutical company’s stock valued at $350,000 after buying an additional 19,590 shares in the last quarter. Finally, TD Asset Management Inc. grew its stake in shares of Amarin by 54.4% in the 2nd quarter. TD Asset Management Inc. now owns 134,207 shares of the biopharmaceutical company’s stock valued at $415,000 after buying an additional 47,300 shares in the last quarter. 38.27% of the stock is owned by institutional investors and hedge funds.

About Amarin

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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