Amarin (AMRN) Stock Price Up 8.9%
Amarin Co. plc (NASDAQ:AMRN) shares rose 8.9% during mid-day trading on Wednesday . The company traded as high as $3.93 and last traded at $3.91. Approximately 4,027,386 shares were traded during mid-day trading, an increase of 131% from the average daily volume of 1,740,136 shares. The stock had previously closed at $3.59.
AMRN has been the subject of a number of research reports. BidaskClub lowered shares of Amarin from a “sell” rating to a “strong sell” rating in a report on Thursday, August 24th. Cantor Fitzgerald reiterated a “buy” rating and issued a $10.00 price objective on shares of Amarin in a report on Tuesday, August 29th. ValuEngine upgraded shares of Amarin from a “sell” rating to a “hold” rating in a report on Thursday, August 31st. Zacks Investment Research upgraded shares of Amarin from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a report on Tuesday, October 3rd. Finally, Jefferies Group reiterated a “buy” rating on shares of Amarin in a report on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $7.75.
The company has a debt-to-equity ratio of -1.48, a current ratio of 1.63 and a quick ratio of 1.32.
In other news, insider John F. Thero purchased 10,000 shares of the stock in a transaction on Thursday, November 30th. The stock was purchased at an average price of $3.24 per share, for a total transaction of $32,400.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Steven B. Ketchum sold 63,479 shares of the firm’s stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $3.48, for a total transaction of $220,906.92. The disclosure for this sale can be found here. 3.72% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Westside Investment Management Inc. raised its holdings in Amarin by 1.1% during the 2nd quarter. Westside Investment Management Inc. now owns 27,350 shares of the biopharmaceutical company’s stock worth $114,000 after purchasing an additional 300 shares during the last quarter. State Street Corp raised its holdings in Amarin by 1.3% during the 2nd quarter. State Street Corp now owns 201,995 shares of the biopharmaceutical company’s stock worth $814,000 after purchasing an additional 2,640 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Amarin by 15.2% during the 2nd quarter. Wells Fargo & Company MN now owns 37,801 shares of the biopharmaceutical company’s stock worth $152,000 after purchasing an additional 5,000 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its holdings in Amarin by 94.2% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 87,104 shares of the biopharmaceutical company’s stock worth $351,000 after purchasing an additional 42,246 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in Amarin during the 3rd quarter worth approximately $226,000. Hedge funds and other institutional investors own 40.12% of the company’s stock.
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Amarin Corporation plc is a biopharmaceutical company with operations in lipid science focused on the commercialization and development of therapeutics for cardiovascular health. The Company operates through the development and commercialization of Vascepa segment. The Company’s lead product, Vascepa (icosapent ethyl) capsule, is approved by the United States Food and Drug Administration (FDA) for use as an adjunct to diet to reduce triglyceride levels in adult patients with severe hypertriglyceridemia.
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