Amarin (AMRN) Cut to “Sell” at Zacks Investment Research
Zacks Investment Research cut shares of Amarin (NASDAQ:AMRN) from a hold rating to a sell rating in a research report sent to investors on Tuesday.
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. “
A number of other research firms have also issued reports on AMRN. ValuEngine upgraded shares of Amarin from a sell rating to a hold rating in a report on Saturday, November 4th. Cantor Fitzgerald set a $10.00 target price on shares of Amarin and gave the company a buy rating in a report on Monday, November 13th. Jefferies Group restated a buy rating on shares of Amarin in a report on Wednesday, October 11th. Finally, HC Wainwright reaffirmed a buy rating and set a $10.00 price objective on shares of Amarin in a research note on Thursday, November 2nd. Three investment analysts have rated the stock with a sell rating and three have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $7.75.
Amarin (NASDAQ AMRN) traded down $0.03 during trading hours on Tuesday, reaching $3.28. 1,543,800 shares of the company’s stock were exchanged, compared to its average volume of 1,720,012. The company has a debt-to-equity ratio of -1.48, a quick ratio of 1.32 and a current ratio of 1.63. Amarin has a 52 week low of $2.81 and a 52 week high of $4.47.
Amarin (NASDAQ:AMRN) last released its earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.01. The firm had revenue of $47.10 million during the quarter, compared to analysts’ expectations of $45.85 million. Amarin’s revenue for the quarter was up 45.4% on a year-over-year basis. During the same quarter last year, the company posted ($0.08) earnings per share. analysts forecast that Amarin will post -0.22 earnings per share for the current year.
In related news, insider John F. Thero acquired 10,000 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was bought at an average price of $3.24 per share, with a total value of $32,400.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Steven B. Ketchum sold 63,479 shares of the company’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $3.48, for a total transaction of $220,906.92. The disclosure for this sale can be found here. Corporate insiders own 3.72% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Intrinsic Edge Capital Management LLC acquired a new stake in Amarin during the 2nd quarter worth approximately $725,000. OxFORD Asset Management LLP increased its position in Amarin by 114.2% during the 2nd quarter. OxFORD Asset Management LLP now owns 135,773 shares of the biopharmaceutical company’s stock worth $547,000 after purchasing an additional 72,390 shares in the last quarter. JPMorgan Chase & Co. increased its position in Amarin by 681.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 278,134 shares of the biopharmaceutical company’s stock worth $1,121,000 after purchasing an additional 242,544 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its position in Amarin by 94.2% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 87,104 shares of the biopharmaceutical company’s stock worth $351,000 after purchasing an additional 42,246 shares in the last quarter. Finally, Alkeon Capital Management LLC acquired a new stake in Amarin during the 3rd quarter worth approximately $7,875,000. 40.17% of the stock is owned by hedge funds and other institutional investors.
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 operates through the development and commercialization of Vascepa segment. 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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