Cantor Fitzgerald set a $35.00 price target on Amarin (NASDAQ:AMRN) in a research note issued to investors on Thursday, TipRanks reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.
Several other research firms have also recently issued reports on AMRN. Stifel Nicolaus set a $27.00 target price on Amarin and gave the stock a buy rating in a research note on Tuesday, July 2nd. Roth Capital started coverage on Amarin in a research note on Monday, June 17th. They issued a buy rating and a $31.00 price objective for the company. Jefferies Financial Group reaffirmed a buy rating and issued a $30.00 price objective on shares of Amarin in a research note on Tuesday, July 9th. Zacks Investment Research raised HB Fuller from a sell rating to a hold rating in a research note on Wednesday, July 3rd. Finally, HC Wainwright set a $51.00 price objective on Amarin and gave the company a buy rating in a research note on Wednesday, July 3rd. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $30.75.
AMRN stock opened at $21.89 on Thursday. The stock’s fifty day simple moving average is $19.27. The company has a quick ratio of 1.84, a current ratio of 2.20 and a debt-to-equity ratio of 0.30. Amarin has a 52-week low of $2.35 and a 52-week high of $23.91.
Amarin (NASDAQ:AMRN) last posted its earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.04. The company had revenue of $73.30 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.07) earnings per share. As a group, equities research analysts anticipate that Amarin will post -0.24 earnings per share for the current fiscal year.
In related news, insider Aaron Berg sold 113,195 shares of the business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $18.59, for a total transaction of $2,104,295.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven B. Ketchum sold 9,541 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $18.67, for a total value of $178,130.47. The disclosure for this sale can be found here. Insiders sold 679,159 shares of company stock valued at $13,728,330 over the last ninety days. Insiders own 2.75% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wealthcare Advisory Partners LLC acquired a new position in Amarin during the 1st quarter worth $42,000. University of Texas Texas AM Investment Managment Co. acquired a new position in Amarin during the 1st quarter worth $44,000. Winslow Evans & Crocker Inc. grew its stake in Amarin by 150.0% during the 1st quarter. Winslow Evans & Crocker Inc. now owns 2,500 shares of the biopharmaceutical company’s stock worth $52,000 after purchasing an additional 1,500 shares in the last quarter. Global Retirement Partners LLC grew its stake in Amarin by 266.3% during the 4th quarter. Global Retirement Partners LLC now owns 2,612 shares of the biopharmaceutical company’s stock worth $36,000 after purchasing an additional 1,899 shares in the last quarter. Finally, Neuburgh Advisers LLC acquired a new position in Amarin during the 4th quarter worth $36,000. 47.62% of the stock is owned by hedge funds and other institutional investors.
Amarin Company Profile
Amarin Corp. Plc is a biopharmaceutical company, which focuses on the commercialization and development of therapeutics for cardiovascular health. Its product development program leverages its experience in lipid science and the potential therapeutic benefits of polyunsaturated fatty acids. It has developed and markets Vascepa capsules through wholesale.
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