Amarin Corp. PLC (AMRN) Trading 1.9% Higher
Amarin Corp. PLC (NASDAQ:AMRN) shares traded up 1.9% on Thursday . The company traded as high as $2.20 and last traded at $2.18, with a volume of 720,967 shares trading hands. The stock had previously closed at $2.14.
A number of research analysts recently weighed in on the company. Jefferies Group reaffirmed a “buy” rating and set a $3.50 price objective on shares of Amarin Corp. PLC in a research report on Thursday. Zacks Investment Research downgraded Amarin Corp. PLC from a “hold” rating to a “sell” rating in a research note on Tuesday, May 17th. Finally, HC Wainwright reiterated a “buy” rating and set a $10.00 target price on shares of Amarin Corp. PLC in a research note on Monday, May 9th.
The firm’s market cap is $400.24 million. The company’s 50 day moving average is $2.07 and its 200 day moving average is $1.71.
Amarin Corp. PLC (NASDAQ:AMRN) last released its quarterly earnings results on Thursday, May 5th. The biopharmaceutical company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by $0.03. During the same period in the prior year, the business posted ($0.16) earnings per share. The business earned $25.30 million during the quarter, compared to analysts’ expectations of $26.77 million. The firm’s revenue was up 60.4% on a year-over-year basis. Analysts anticipate that Amarin Corp. PLC will post ($0.49) earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in the company. Oracle Investment Management Inc. boosted its stake in shares of Amarin Corp. PLC by 9.4% in the fourth quarter. Oracle Investment Management Inc. now owns 6,645,793 shares of the biopharmaceutical company’s stock worth $12,561,000 after buying an additional 568,915 shares in the last quarter. Tamarack Advisers LP bought a new stake in shares of Amarin Corp. PLC during the fourth quarter worth about $10,395,000. Finally, OppenheimerFunds Inc. boosted its stake in shares of Amarin Corp. PLC by 0.5% in the fourth quarter. OppenheimerFunds Inc. now owns 5,323,360 shares of the biopharmaceutical company’s stock worth $10,061,000 after buying an additional 27,090 shares in the last quarter.
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’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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