Amarin (NASDAQ:AMRN) has been assigned a $10.00 price objective by analysts at Cantor Fitzgerald in a report released on Monday. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target points to a potential upside of 166.67% from the stock’s current price.
Several other research analysts have also commented on the stock. Zacks Investment Research lowered shares of Amarin from a “hold” rating to a “sell” rating in a report on Friday, March 2nd. HC Wainwright reaffirmed a “buy” rating on shares of Amarin in a report on Thursday, March 1st. BidaskClub lowered shares of Amarin from a “sell” rating to a “strong sell” rating in a report on Friday, March 2nd. Finally, ValuEngine raised shares of Amarin from a “sell” rating to a “hold” rating in a report on Wednesday, December 20th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $7.75.
Amarin (AMRN) opened at $3.75 on Monday. Amarin has a fifty-two week low of $2.85 and a fifty-two week high of $4.60. The company has a debt-to-equity ratio of -1.12, a current ratio of 1.41 and a quick ratio of 1.13. The company has a market cap of $1,090.00, a PE ratio of -15.00 and a beta of 0.57.
In related news, General Counsel Joseph T. Kennedy sold 51,106 shares of Amarin stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $4.10, for a total value of $209,534.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Joseph T. Kennedy sold 44,857 shares of Amarin stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $3.73, for a total transaction of $167,316.61. The disclosure for this sale can be found here. Over the last quarter, insiders sold 426,720 shares of company stock worth $1,814,296. 3.72% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the stock. Paloma Partners Management Co bought a new stake in Amarin in the 4th quarter valued at about $141,000. Hoylecohen LLC bought a new stake in Amarin in the 4th quarter valued at about $142,000. Wells Fargo & Company MN lifted its position in Amarin by 15.2% in the 2nd quarter. Wells Fargo & Company MN now owns 37,801 shares of the biopharmaceutical company’s stock valued at $152,000 after purchasing an additional 5,000 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in Amarin in the 3rd quarter valued at about $226,000. Finally, Stevens Capital Management LP bought a new stake in Amarin in the 3rd quarter valued at about $229,000. Hedge funds and other institutional investors own 38.20% of the company’s stock.
Amarin Company Profile
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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