Cantor Fitzgerald reaffirmed their buy rating on shares of Amarin (NASDAQ:AMRN) in a research report released on Thursday morning. The brokerage currently has a $10.00 target price on the biopharmaceutical company’s stock.
“Amarin announced the presentation of two posters at the National Kidney Foundation 2018 Spring Clinical Meetings in Austin, TX. These data, along with what we expect to be positive results from Amarin’s REDUCE-IT study by 3Q18, support our investment thesis for the stock. This is because a large portion of the male and female patients enrolled in this outcomes study are anticipated to also be diagnosed with type 2 diabetes.”,” the firm’s analyst wrote.
A number of other equities analysts have also weighed in on AMRN. HC Wainwright restated a buy rating on shares of Amarin in a research report on Thursday, March 1st. Zacks Investment Research lowered shares of Amarin from a hold rating to a sell rating in a research report on Friday, March 2nd. BidaskClub lowered shares of Amarin from a buy rating to a hold rating in a research report on Thursday, January 18th. Finally, ValuEngine upgraded shares of Amarin from a sell rating to a hold rating in a research report on Wednesday, December 20th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $7.75.
Shares of NASDAQ AMRN opened at $3.03 on Thursday. The company has a debt-to-equity ratio of -1.12, a current ratio of 1.41 and a quick ratio of 1.13. The firm has a market capitalization of $903.26, a PE ratio of -12.12 and a beta of 0.72. Amarin has a 1 year low of $2.82 and a 1 year high of $4.60.
Amarin (NASDAQ:AMRN) last announced its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported ($0.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.03). The firm had revenue of $53.87 million for the quarter, compared to analysts’ expectations of $52.73 million. Amarin’s quarterly revenue was up 39.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.10) earnings per share. research analysts predict that Amarin will post -0.33 earnings per share for the current fiscal year.
In related news, insider Steven B. Ketchum sold 135,205 shares of the company’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $4.41, for a total transaction of $596,254.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Joseph T. Kennedy sold 26,942 shares of the company’s stock in a transaction on Tuesday, April 3rd. The stock was sold at an average price of $2.90, for a total transaction of $78,131.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 258,110 shares of company stock valued at $1,051,237. 3.72% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of AMRN. Hoylecohen LLC bought a new position in Amarin during the fourth quarter valued at $142,000. LPL Financial LLC lifted its position in Amarin by 12.3% during the fourth quarter. LPL Financial LLC now owns 143,642 shares of the biopharmaceutical company’s stock valued at $576,000 after purchasing an additional 15,782 shares during the last quarter. Paloma Partners Management Co bought a new position in Amarin during the fourth quarter valued at $141,000. Two Sigma Investments LP lifted its position in Amarin by 41.1% during the fourth quarter. Two Sigma Investments LP now owns 1,547,977 shares of the biopharmaceutical company’s stock valued at $6,207,000 after purchasing an additional 450,755 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its position in Amarin by 103.2% during the fourth quarter. Two Sigma Advisers LP now owns 968,146 shares of the biopharmaceutical company’s stock valued at $3,882,000 after purchasing an additional 491,600 shares during the last quarter. Hedge funds and other institutional investors own 38.16% of the company’s stock.
Amarin Corporation plc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for the treatment of cardiovascular diseases in the United States. The company's lead product is Vascepa, a prescription-only omega-3 fatty acid capsule, used as an adjunct to diet for reducing triglyceride levels in adult patients with severe hypertriglyceridemia.
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