Amarin (NASDAQ:AMRN) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Amarin (NASDAQ:AMRN) from a strong-buy rating to a hold rating in a research note issued to investors on Monday, Zacks.com reports.

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. “

Other research analysts also recently issued research reports about the stock. Svb Leerink upped their price target on shares of Amarin from $26.00 to $29.00 and gave the stock an outperform rating in a research report on Friday, November 15th. Citigroup downgraded shares of Amarin from a buy rating to a neutral rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. initiated coverage on shares of Amarin in a research report on Monday, January 6th. They set a neutral rating and a $22.00 price target on the stock. Roth Capital reiterated a buy rating and set a $31.00 price target on shares of Amarin in a research report on Tuesday, December 3rd. Finally, Goldman Sachs Group initiated coverage on shares of Amarin in a research report on Tuesday, October 15th. They set a neutral rating and a $17.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $27.23.

Shares of NASDAQ:AMRN opened at $19.40 on Monday. Amarin has a 52 week low of $13.76 and a 52 week high of $26.12. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.45 and a current ratio of 3.69. The company’s fifty day moving average is $21.36 and its 200-day moving average is $18.45. The company has a market capitalization of $6.90 billion, a PE ratio of -49.74 and a beta of 1.05.

Amarin (NASDAQ:AMRN) last issued its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($0.01) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. Amarin had a negative net margin of 17.42% and a negative return on equity of 26.67%. The company had revenue of $112.40 million for the quarter, compared to the consensus estimate of $110.04 million. During the same quarter in the previous year, the company earned ($0.08) EPS. The firm’s revenue for the quarter was up 104.4% compared to the same quarter last year. On average, analysts forecast that Amarin will post -0.1 EPS for the current year.

In other Amarin news, CEO John F. Thero sold 274,454 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $20.91, for a total transaction of $5,738,833.14. Also, Director Lars Ekman sold 38,600 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $24.02, for a total value of $927,172.00. Insiders have sold a total of 788,600 shares of company stock valued at $18,088,620 over the last three months. Company insiders own 2.75% of the company’s stock.

Large investors have recently made changes to their positions in the business. Valeo Financial Advisors LLC raised its holdings in Amarin by 23,330.0% during the 3rd quarter. Valeo Financial Advisors LLC now owns 2,343 shares of the biopharmaceutical company’s stock worth $36,000 after purchasing an additional 2,333 shares during the last quarter. Endurance Wealth Management Inc. raised its holdings in Amarin by 66.7% during the 3rd quarter. Endurance Wealth Management Inc. now owns 2,500 shares of the biopharmaceutical company’s stock worth $37,000 after purchasing an additional 1,000 shares during the last quarter. Lindbrook Capital LLC raised its holdings in Amarin by 118.0% during the 3rd quarter. Lindbrook Capital LLC now owns 4,360 shares of the biopharmaceutical company’s stock worth $66,000 after purchasing an additional 2,360 shares during the last quarter. Kistler Tiffany Companies LLC raised its holdings in Amarin by 37.0% during the 4th quarter. Kistler Tiffany Companies LLC now owns 3,700 shares of the biopharmaceutical company’s stock worth $79,000 after purchasing an additional 1,000 shares during the last quarter. Finally, NEXT Financial Group Inc raised its holdings in Amarin by 17.1% during the 3rd quarter. NEXT Financial Group Inc now owns 7,670 shares of the biopharmaceutical company’s stock worth $116,000 after purchasing an additional 1,120 shares during the last quarter. 52.79% 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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