Investors Sell Shares of Amarin (AMRN) on Strength (AMRN)
Traders sold shares of Amarin Co. plc (NASDAQ:AMRN) on strength during trading on Monday. $322.46 million flowed into the stock on the tick-up and $370.11 million flowed out of the stock on the tick-down, for a money net flow of $47.65 million out of the stock. Of all equities tracked, Amarin had the 0th highest net out-flow for the day. Amarin traded up $9.41 for the day and closed at $12.40
Several analysts have issued reports on AMRN shares. Cantor Fitzgerald set a $10.00 price target 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 Monday, July 2nd. BidaskClub raised Amarin from a “hold” rating to a “buy” rating in a research note on Monday, June 18th. HC Wainwright reissued a “buy” rating and issued a $20.00 price target (up previously from $10.00) on shares of Amarin in a research note on Tuesday. Finally, Jefferies Financial Group lifted their price target on Amarin from $7.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $13.20.
The company has a debt-to-equity ratio of -1.25, a current ratio of 1.43 and a quick ratio of 1.13.
In related news, General Counsel Joseph T. Kennedy sold 26,942 shares of Amarin stock in a transaction dated Monday, July 2nd. The stock was sold at an average price of $3.00, for a total value of $80,826.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 4.08% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Farallon Capital Management LLC acquired a new position in Amarin during the first quarter worth approximately $13,726,000. Sofinnova Ventures Inc acquired a new position in Amarin during the first quarter worth approximately $9,998,000. FMR LLC increased its position in Amarin by 57.7% during the second quarter. FMR LLC now owns 5,335,221 shares of the biopharmaceutical company’s stock worth $16,486,000 after buying an additional 1,952,118 shares during the last quarter. Alkeon Capital Management LLC acquired a new position in Amarin during the first quarter worth approximately $5,869,000. Finally, Opaleye Management Inc. increased its position in Amarin by 102.9% during the first quarter. Opaleye Management Inc. now owns 1,745,000 shares of the biopharmaceutical company’s stock worth $5,252,000 after buying an additional 885,000 shares during the last quarter. 38.27% of the stock is currently owned by institutional investors and hedge funds.
About Amarin (NASDAQ:AMRN)
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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