Amarin Corp. PLC (AMRN) Trading 1.8% Higher
Shares of Amarin Corp. PLC (NASDAQ:AMRN) traded up 1.8% during mid-day trading on Wednesday . The company traded as high as $2.30 and last traded at $2.26, with a volume of 599,994 shares. The stock had previously closed at $2.22.
A number of analysts have issued reports on the company. Jefferies Group assumed coverage on Amarin Corp. PLC in a research note on Thursday, May 12th. They issued a “buy” rating and a $3.50 target price for the company. Zacks Investment Research cut Amarin Corp. PLC from a “hold” rating to a “sell” rating in a report on Tuesday, May 17th. Finally, HC Wainwright reiterated a “buy” rating and set a $10.00 price target on shares of Amarin Corp. PLC in a report on Monday, May 9th.
The firm’s market capitalization is $418.68 million. The firm has a 50-day moving average price of $2.13 and a 200-day moving average price of $1.72.
Amarin Corp. PLC (NASDAQ:AMRN) last announced its quarterly earnings results on Thursday, May 5th. The biopharmaceutical company reported ($0.14) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by $0.03. During the same period in the previous year, the company earned ($0.16) EPS. The business earned $25.30 million during the quarter, compared to the consensus estimate of $26.77 million. Amarin Corp. PLC’s revenue was up 60.4% compared to the same quarter last year. On average, equities analysts predict that Amarin Corp. PLC will post ($0.49) earnings per share for the current year.
A number of large investors have recently made changes to their positions in the company. Oracle Investment Management Inc. raised 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 valued at $12,561,000 after buying an additional 568,915 shares in the last quarter. Tamarack Advisers LP purchased a new stake in shares of Amarin Corp. PLC during the fourth quarter valued at approximately $10,395,000. Finally, OppenheimerFunds Inc. raised 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 valued at $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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