Amarin Corp. PLC (AMRN) Trading Down 3%
Shares of Amarin Corp. PLC (NASDAQ:AMRN) traded down 3% during trading on Thursday . The stock traded as low as $2.95 and last traded at $3.22, with a volume of 7,052,162 shares. The stock had previously closed at $3.32.
Several analysts recently commented on the company. Zacks Investment Research raised Amarin Corp. PLC from a “hold” rating to a “buy” rating and set a $3.75 price objective for the company in a report on Thursday. Jefferies Group reaffirmed a “buy” rating and issued a $3.50 price objective on shares of Amarin Corp. PLC in a report on Thursday, July 7th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Amarin Corp. PLC in a report on Monday, May 9th.
The stock’s 50 day moving average is $2.36 and its 200-day moving average is $1.83. The company’s market capitalization is $614.19 million.
Amarin Corp. PLC (NASDAQ:AMRN) last posted its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.06. The company had revenue of $32.82 million for the quarter, compared to analysts’ expectations of $29.97 million. During the same quarter in the prior year, the company earned ($0.15) EPS. The firm’s quarterly revenue was up 85.4% on a year-over-year basis. On average, equities research analysts expect that Amarin Corp. PLC will post ($0.57) EPS for the current fiscal year.
A hedge fund recently raised its stake in Amarin Corp. PLC stock. OppenheimerFunds Inc. increased its position in Amarin Corp. PLC (NASDAQ:AMRN) by 0.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,323,360 shares of the biopharmaceutical company’s stock after buying an additional 27,090 shares during the period. OppenheimerFunds Inc. owned approximately 2.90% of Amarin Corp. PLC worth $10,061,000 at the end of the most recent reporting period.
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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