Amarin Corp. PLC (NASDAQ:AMRN) dropped 7.8% during mid-day trading on Thursday . The stock traded as low as $2.91 and last traded at $3.06, with a volume of 8,395,848 shares trading hands. The stock had previously closed at $3.32.

AMRN has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Amarin Corp. PLC from a “hold” rating to a “buy” rating and set a $3.75 target price for the company in a research report on Thursday, August 4th. Jefferies Group reiterated a “buy” rating and set a $3.50 target price on shares of Amarin Corp. PLC in a research report on Thursday, July 7th. Finally, HC Wainwright reiterated a “buy” rating and set a $10.00 target price on shares of Amarin Corp. PLC in a research report on Monday, August 8th.

The company has a 50-day moving average of $2.52 and a 200-day moving average of $1.89. The firm’s market cap is $566.57 million.

Amarin Corp. PLC (NASDAQ:AMRN) last released its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.06. The firm earned $32.82 million during the quarter, compared to analysts’ expectations of $29.97 million. The company’s revenue was up 85.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.15) earnings per share. On average, analysts predict that Amarin Corp. PLC will post ($0.53) EPS for the current fiscal year.

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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