EULAV Asset Management bought a new position in Amarin Co. plc (NASDAQ:AMRN) in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 950,000 shares of the biopharmaceutical company’s stock, valued at approximately $15,456,000. EULAV Asset Management owned about 0.32% of Amarin at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of AMRN. BKS Advisors LLC purchased a new position in shares of Amarin during the 3rd quarter valued at about $162,000. Alps Advisors Inc. raised its stake in shares of Amarin by 21.9% during the 3rd quarter. Alps Advisors Inc. now owns 519,534 shares of the biopharmaceutical company’s stock valued at $8,453,000 after buying an additional 93,448 shares during the last quarter. Signature Estate & Investment Advisors LLC purchased a new position in shares of Amarin during the 3rd quarter valued at about $137,000. State of New Jersey Common Pension Fund D purchased a new position in shares of Amarin during the 3rd quarter valued at about $3,254,000. Finally, Northern Trust Corp raised its stake in shares of Amarin by 20.9% during the 2nd quarter. Northern Trust Corp now owns 113,327 shares of the biopharmaceutical company’s stock valued at $350,000 after buying an additional 19,590 shares during the last quarter. Institutional investors own 39.02% of the company’s stock.
In other news, insider Steven B. Ketchum sold 316,604 shares of the firm’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $16.13, for a total transaction of $5,106,822.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Joseph T. Kennedy sold 50,249 shares of the firm’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $16.81, for a total value of $844,685.69. The disclosure for this sale can be found here. Insiders have sold a total of 2,975,800 shares of company stock worth $33,975,779 over the last 90 days. Insiders own 4.08% of the company’s stock.
Amarin (NASDAQ:AMRN) last posted its earnings results on Wednesday, August 1st. The biopharmaceutical company reported ($0.12) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.03). The firm had revenue of $52.64 million during the quarter, compared to analysts’ expectations of $54.88 million. During the same quarter in the previous year, the business earned ($0.04) EPS. The firm’s revenue for the quarter was up 16.4% on a year-over-year basis. As a group, research analysts predict that Amarin Co. plc will post -0.42 earnings per share for the current year.
A number of equities analysts have weighed in on AMRN shares. BidaskClub upgraded Amarin from a “sell” rating to a “hold” rating in a research note on Wednesday, August 29th. Zacks Investment Research lowered Amarin from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. Cantor Fitzgerald set a $10.00 price objective on Amarin and gave the company a “buy” rating in a research note on Wednesday, August 1st. ValuEngine upgraded Amarin from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 24th. Finally, HC Wainwright reiterated a “buy” rating and set a $20.00 price objective (up previously from $10.00) on shares of Amarin in a research note on Tuesday, September 25th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $23.75.
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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