Amarin Co. plc (NASDAQ:AMRN) shares were down 6% during trading on Monday . The stock traded as low as $16.20 and last traded at $16.27. Approximately 5,640,665 shares changed hands during mid-day trading, a decline of 27% from the average daily volume of 7,743,691 shares. The stock had previously closed at $17.31.
Several research analysts have recently commented on AMRN shares. HC Wainwright reaffirmed a “buy” rating and issued a $51.00 price objective on shares of Amarin in a research note on Thursday, January 17th. Zacks Investment Research raised Amarin from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Monday, May 6th. Stifel Nicolaus started coverage on Amarin in a research note on Thursday, March 21st. They issued a “buy” rating and a $27.00 price objective on the stock. Finally, BidaskClub downgraded Amarin from a “buy” rating to a “hold” rating in a research note on Thursday, March 21st. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Amarin presently has an average rating of “Buy” and a consensus target price of $30.43.
The company has a market cap of $5.49 billion, a PE ratio of -43.38 and a beta of 1.15. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.20 and a quick ratio of 1.84.
Amarin (NASDAQ:AMRN) last issued its earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.04. The company had revenue of $73.30 million for the quarter, compared to the consensus estimate of $67.30 million. Amarin had a negative return on equity of 450.07% and a negative net margin of 45.16%. The firm’s quarterly revenue was up 67.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.07) EPS. On average, equities analysts anticipate that Amarin Co. plc will post -0.22 earnings per share for the current year.
In related news, CFO Michael Wayne Kalb sold 25,000 shares of Amarin stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $17.58, for a total transaction of $439,500.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kristine Peterson sold 163,500 shares of Amarin stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $20.02, for a total value of $3,273,270.00. The disclosure for this sale can be found here. Insiders have sold a total of 907,136 shares of company stock worth $18,825,115 in the last three months. 2.75% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wealthcare Advisory Partners LLC purchased a new position in Amarin during the 1st quarter valued at approximately $42,000. University of Texas Texas AM Investment Managment Co. purchased a new position in Amarin during the 1st quarter valued at approximately $44,000. Benjamin F. Edwards & Company Inc. purchased a new position in Amarin during the 4th quarter valued at approximately $34,000. Winslow Evans & Crocker Inc. grew its holdings in Amarin by 150.0% during the 1st quarter. Winslow Evans & Crocker Inc. now owns 2,500 shares of the biopharmaceutical company’s stock valued at $52,000 after buying an additional 1,500 shares in the last quarter. Finally, Global Retirement Partners LLC grew its holdings in Amarin by 266.3% during the 4th quarter. Global Retirement Partners LLC now owns 2,612 shares of the biopharmaceutical company’s stock valued at $36,000 after buying an additional 1,899 shares in the last quarter. Institutional investors and hedge funds own 48.79% of the company’s stock.
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Amarin Company Profile (NASDAQ:AMRN)
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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