Seelaus Asset Management LLC Purchases New Stake in Amarin Co. plc (AMRN)
Seelaus Asset Management LLC purchased a new stake in Amarin Co. plc (NASDAQ:AMRN) during the first quarter, HoldingsChannel.com reports. The fund purchased 10,000 shares of the biopharmaceutical company’s stock, valued at approximately $208,000.
Other large investors have also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Managment Co. bought a new position in shares of Amarin in the first quarter valued at approximately $44,000. Benjamin F. Edwards & Company Inc. bought a new position in Amarin during the fourth quarter worth $34,000. Winslow Evans & Crocker Inc. increased its position in Amarin by 150.0% during the first quarter. Winslow Evans & Crocker Inc. now owns 2,500 shares of the biopharmaceutical company’s stock worth $52,000 after acquiring an additional 1,500 shares during the period. Global Retirement Partners LLC increased its position in Amarin by 266.3% during the fourth quarter. Global Retirement Partners LLC now owns 2,612 shares of the biopharmaceutical company’s stock worth $36,000 after acquiring an additional 1,899 shares during the period. Finally, Neuburgh Advisers LLC bought a new position in Amarin during the fourth quarter worth $36,000. 48.79% of the stock is currently owned by institutional investors.
In other Amarin news, insider Steven B. Ketchum sold 55,543 shares of Amarin stock in a transaction on Friday, March 1st. The shares were sold at an average price of $21.85, for a total transaction of $1,213,614.55. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John F. Thero sold 250,000 shares of Amarin stock in a transaction on Monday, March 4th. The stock was sold at an average price of $21.31, for a total transaction of $5,327,500.00. The disclosure for this sale can be found here. Insiders have sold 907,136 shares of company stock worth $18,825,115 in the last quarter. Corporate insiders own 2.75% of the company’s stock.
Amarin (NASDAQ:AMRN) last posted its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.04. Amarin had a negative net margin of 45.16% and a negative return on equity of 450.07%. The firm had revenue of $73.30 million for the quarter, compared to the consensus estimate of $67.30 million. During the same quarter in the previous year, the company earned ($0.07) earnings per share. The business’s revenue was up 67.0% compared to the same quarter last year. On average, equities research analysts expect that Amarin Co. plc will post -0.22 EPS for the current fiscal year.
AMRN has been the topic of a number of research reports. HC Wainwright reaffirmed a “buy” rating and set a $51.00 target price on shares of Amarin in a research report on Thursday, January 17th. Zacks Investment Research raised shares of Amarin from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Monday, May 6th. Stifel Nicolaus initiated coverage on shares of Amarin in a research report on Thursday, March 21st. They set a “buy” rating and a $27.00 target price on the stock. Finally, BidaskClub lowered shares of Amarin from a “buy” rating to a “hold” rating in a research report on Thursday, March 21st. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Amarin currently has an average rating of “Buy” and an average price target of $30.43.
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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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