BidaskClub upgraded shares of Amarin (NASDAQ:AMRN) from a hold rating to a buy rating in a research note released on Friday morning.
AMRN has been the subject of several other research reports. ValuEngine lowered shares of Amarin from a buy rating to a hold rating in a research note on Saturday, July 28th. Citigroup reissued a buy rating and issued a $25.00 price objective (up previously from $17.00) on shares of Amarin in a research note on Tuesday, October 16th. Cantor Fitzgerald set a $10.00 price objective on shares of Amarin and gave the company a buy rating in a research note on Thursday, August 23rd. Jefferies Financial Group raised their price objective on shares of Amarin from $7.00 to $15.00 and gave the company a buy rating in a research note on Tuesday, September 25th. Finally, HC Wainwright reissued a buy rating and issued a $20.00 price objective (up previously from $10.00) on shares of Amarin in a research note on Tuesday, September 25th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Amarin currently has a consensus rating of Buy and an average price target of $23.75.
Shares of AMRN traded up $0.17 during trading on Friday, reaching $21.96. 8,901,103 shares of the company traded hands, compared to its average volume of 20,986,062. Amarin has a twelve month low of $2.35 and a twelve month high of $22.12. The stock has a market cap of $6.37 billion, a PE ratio of -87.84 and a beta of 0.45.
In related news, CFO Michael Wayne Kalb sold 150,000 shares of Amarin stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $10.42, for a total value of $1,563,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven B. Ketchum sold 879,241 shares of Amarin stock in a transaction that occurred on Tuesday, September 25th. The stock was sold at an average price of $11.10, for a total transaction of $9,759,575.10. The disclosure for this sale can be found here. In the last three months, insiders sold 2,975,800 shares of company stock valued at $33,975,779. Insiders own 4.08% of the company’s stock.
A number of institutional investors have recently modified their holdings of AMRN. FMR LLC lifted its stake in Amarin by 57.7% in the second quarter. FMR LLC now owns 5,335,221 shares of the biopharmaceutical company’s stock worth $16,486,000 after acquiring an additional 1,952,118 shares during the last quarter. EULAV Asset Management purchased a new position in Amarin in the third quarter worth approximately $15,456,000. Alps Advisors Inc. purchased a new position in Amarin in the second quarter worth approximately $1,317,000. State of New Jersey Common Pension Fund D purchased a new position in Amarin in the third quarter worth approximately $3,254,000. Finally, GSA Capital Partners LLP lifted its stake in Amarin by 66.3% in the second quarter. GSA Capital Partners LLP now owns 162,800 shares of the biopharmaceutical company’s stock worth $503,000 after acquiring an additional 64,900 shares during the last quarter. Institutional investors own 39.02% of the company’s stock.
Amarin Company Profile
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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