Amarin (NASDAQ:AMRN) Rating Increased to Buy at Zacks Investment Research

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Zacks Investment Research upgraded shares of Amarin (NASDAQ:AMRN) from a hold rating to a buy rating in a research note released on Thursday, Zacks.com reports. Zacks Investment Research currently has $18.00 price target on the biopharmaceutical company’s stock.

According to Zacks, “Amarin Corporation plc is a global pharmaceutical group which develops innovative pharmaceutical products across a range of therapeutic areas utilizing its proprietary advanced oral and transdermal drug delivery technologies. “

Several other equities analysts have also recently issued reports on the company. Leerink Swann set a $26.00 price target on Amarin and gave the company a buy rating in a research report on Tuesday, September 10th. Jefferies Financial Group set a $30.00 price target on Amarin and gave the company a buy rating in a research report on Thursday, September 12th. Svb Leerink initiated coverage on Amarin in a research report on Wednesday, August 14th. They set an outperform rating and a $26.00 price target on the stock. HC Wainwright reiterated a buy rating on shares of Amarin in a research report on Thursday, August 1st. Finally, Roth Capital set a $31.00 price target on Amarin and gave the company a buy rating in a research report on Friday, September 6th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of Buy and an average price target of $28.18.

Shares of AMRN stock opened at $16.13 on Thursday. Amarin has a 1 year low of $11.78 and a 1 year high of $23.91. The stock has a market cap of $5.85 billion, a PE ratio of -41.36 and a beta of 1.09. The business’s fifty day moving average is $15.65 and its 200-day moving average is $17.61. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.76 and a current ratio of 2.01.

Amarin (NASDAQ:AMRN) last issued its quarterly earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.01. Amarin had a negative return on equity of 111.75% and a negative net margin of 27.51%. The company had revenue of $100.40 million for the quarter, compared to analysts’ expectations of $99.54 million. During the same period last year, the firm earned ($0.10) EPS. The firm’s revenue for the quarter was up 90.9% on a year-over-year basis. Equities research analysts predict that Amarin will post -0.2 earnings per share for the current year.

In other news, Director Lars Ekman sold 91,016 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $15.01, for a total transaction of $1,366,150.16. Following the completion of the sale, the director now directly owns 13,500 shares of the company’s stock, valued at approximately $202,635. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.75% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC boosted its stake in shares of Amarin by 23,330.0% during the 3rd quarter. Valeo Financial Advisors LLC now owns 2,343 shares of the biopharmaceutical company’s stock worth $36,000 after acquiring an additional 2,333 shares in the last quarter. Endurance Wealth Management Inc. boosted its stake in shares of Amarin by 66.7% during the 3rd quarter. Endurance Wealth Management Inc. now owns 2,500 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 1,000 shares in the last quarter. Kistler Tiffany Companies LLC boosted its stake in shares of Amarin by 166.7% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,400 shares of the biopharmaceutical company’s stock worth $47,000 after acquiring an additional 1,500 shares in the last quarter. Tobam boosted its stake in shares of Amarin by 45.5% during the 2nd quarter. Tobam now owns 3,200 shares of the biopharmaceutical company’s stock worth $62,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Quantamental Technologies LLC bought a new stake in shares of Amarin during the 2nd quarter worth $74,000. 45.71% of the stock is owned by institutional investors and hedge funds.

Amarin Company Profile

Amarin Corp. Plc is a biopharmaceutical company, which focuses on the commercialization and development of therapeutics for cardiovascular health. Its product development program leverages its experience in lipid science and the potential therapeutic benefits of polyunsaturated fatty acids. It has developed and markets Vascepa capsules through wholesale.

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