Amarin (AMRN) Downgraded to Hold at BidaskClub
Amarin (NASDAQ:AMRN) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Thursday.
Other research analysts also recently issued reports about the company. Cantor Fitzgerald set a $10.00 price target on Amarin and gave the stock a “buy” rating in a research note on Tuesday, December 19th. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price target on shares of Amarin in a research note on Thursday, November 2nd. Jefferies Group reaffirmed a “buy” rating on shares of Amarin in a research note on Wednesday, October 11th. Zacks Investment Research raised Amarin from a “hold” rating to a “buy” rating and set a $4.00 price target on the stock in a research note on Tuesday, October 3rd. Finally, ValuEngine raised Amarin from a “sell” rating to a “hold” rating in a research note on Saturday, November 4th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Amarin currently has an average rating of “Buy” and a consensus price target of $7.75.
Amarin (NASDAQ:AMRN) opened at $3.97 on Thursday. Amarin has a 52 week low of $2.81 and a 52 week high of $4.47. The company has a debt-to-equity ratio of -1.48, a quick ratio of 1.32 and a current ratio of 1.63. The firm has a market capitalization of $1,080.00, a P/E ratio of -14.70 and a beta of 0.62.
In related news, insider John F. Thero acquired 10,000 shares of the stock in a transaction dated Thursday, November 30th. The stock was purchased at an average cost of $3.24 per share, with a total value of $32,400.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven B. Ketchum sold 128,257 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $4.25, for a total value of $545,092.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 246,658 shares of company stock valued at $1,050,725. Company insiders own 3.72% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Westside Investment Management Inc. raised its stake in shares of Amarin by 1.1% in the second quarter. Westside Investment Management Inc. now owns 27,350 shares of the biopharmaceutical company’s stock worth $114,000 after purchasing an additional 300 shares during the last quarter. State Street Corp raised its stake in shares of Amarin by 1.3% in the second quarter. State Street Corp now owns 201,995 shares of the biopharmaceutical company’s stock worth $814,000 after purchasing an additional 2,640 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Amarin by 15.2% in the second quarter. Wells Fargo & Company MN now owns 37,801 shares of the biopharmaceutical company’s stock worth $152,000 after purchasing an additional 5,000 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its stake in shares of Amarin by 94.2% in the second 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 during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Amarin in the third quarter worth approximately $226,000. 40.12% of the stock is owned by hedge funds and other institutional investors.
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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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