Amarin Corporation PLC (AMRN) Receives Consensus Recommendation of “Buy” from Analysts
Amarin Corporation PLC (NASDAQ:AMRN) has been given a consensus recommendation of “Buy” by the seven research firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $7.25.
AMRN has been the subject of a number of recent research reports. BidaskClub downgraded Amarin Corporation PLC from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 24th. Zacks Investment Research downgraded Amarin Corporation PLC from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. HC Wainwright reissued a “buy” rating and issued a $10.00 price objective on shares of Amarin Corporation PLC in a research note on Wednesday, August 9th. ValuEngine raised Amarin Corporation PLC from a “sell” rating to a “hold” rating in a research note on Thursday, August 31st. Finally, Jefferies Group LLC raised their price objective on Amarin Corporation PLC from $5.00 to $7.00 and gave the company a “buy” rating in a research note on Friday, June 30th.
In related news, 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 value of $220,906.92. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.72% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of AMRN. Renaissance Technologies LLC raised its stake in shares of Amarin Corporation PLC by 348.2% in the 1st quarter. Renaissance Technologies LLC now owns 1,730,200 shares of the biopharmaceutical company’s stock valued at $5,537,000 after acquiring an additional 1,344,200 shares in the last quarter. Morgan Stanley raised its stake in shares of Amarin Corporation PLC by 119.7% in the 1st quarter. Morgan Stanley now owns 1,138,992 shares of the biopharmaceutical company’s stock valued at $3,645,000 after acquiring an additional 620,577 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Amarin Corporation PLC in the 1st quarter valued at approximately $960,000. JPMorgan Chase & Co. raised its stake in shares of Amarin Corporation PLC by 681.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 278,134 shares of the biopharmaceutical company’s stock valued at $1,121,000 after acquiring an additional 242,544 shares in the last quarter. Finally, GSA Capital Partners LLP raised its stake in shares of Amarin Corporation PLC by 135.4% in the 2nd quarter. GSA Capital Partners LLP now owns 342,800 shares of the biopharmaceutical company’s stock valued at $1,381,000 after acquiring an additional 197,200 shares in the last quarter. 37.76% of the stock is currently owned by institutional investors and hedge funds.
Amarin Corporation PLC (NASDAQ:AMRN) last posted its quarterly earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.01. The firm had revenue of $44.95 million for the quarter, compared to analysts’ expectations of $40.35 million. During the same period last year, the business earned ($0.07) earnings per share. The firm’s revenue for the quarter was up 37.0% on a year-over-year basis.
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About Amarin Corporation PLC
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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