Amarin (NASDAQ:AMRN) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Amarin (NASDAQ:AMRN) from a hold rating to a buy rating in a research note published on Wednesday morning, Zacks.com reports. The firm currently has $24.00 target price on the biopharmaceutical company’s stock.

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 equities research analysts have also issued reports about the stock. Stifel Nicolaus set a $27.00 target price on shares of Amarin and gave the stock a buy rating in a report on Tuesday, July 2nd. Cantor Fitzgerald set a $35.00 target price on shares of Amarin and gave the stock a buy rating in a report on Thursday, July 11th. Roth Capital began coverage on shares of Amarin in a report on Monday, June 17th. They issued a buy rating and a $31.00 target price for the company. HC Wainwright set a $51.00 target price on shares of Amarin and gave the stock a buy rating in a report on Wednesday, July 3rd. Finally, BidaskClub lowered shares of RigNet from a sell rating to a strong sell rating in a report on Thursday, March 21st. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Amarin presently has a consensus rating of Buy and an average target price of $31.00.



Shares of NASDAQ:AMRN opened at $18.08 on Wednesday. The business has a 50 day simple moving average of $19.67. Amarin has a twelve month low of $2.35 and a twelve month high of $23.91. The company has a current ratio of 2.20, a quick ratio of 1.84 and a debt-to-equity ratio of 0.30.

Amarin (NASDAQ:AMRN) last released its earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.04. The company had revenue of $73.30 million during the quarter, compared to analyst estimates of $67.30 million. Amarin had a negative net margin of 45.16% and a negative return on equity of 450.07%. The firm’s quarterly revenue was up 67.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.07) EPS. As a group, analysts expect that Amarin will post -0.24 EPS for the current fiscal year.

In related news, Director Joseph S. Zakrzewski sold 100,000 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $23.82, for a total value of $2,382,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Aaron Berg sold 113,195 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $18.59, for a total value of $2,104,295.05. The disclosure for this sale can be found here. Over the last three months, insiders sold 679,159 shares of company stock valued at $13,728,330. 2.75% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Wealthcare Advisory Partners LLC bought a new stake in Amarin in the first quarter worth $42,000. University of Texas Texas AM Investment Managment Co. bought a new stake in Amarin in the first quarter worth $44,000. Winslow Evans & Crocker Inc. lifted its position in Amarin by 150.0% in the first quarter. Winslow Evans & Crocker Inc. now owns 2,500 shares of the biopharmaceutical company’s stock worth $52,000 after buying an additional 1,500 shares during the last quarter. Global Retirement Partners LLC lifted its position in shares of Amarin by 266.3% during the fourth 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 during the last quarter. Finally, Neuburgh Advisers LLC bought a new stake in shares of Amarin during the fourth quarter worth $36,000. Institutional investors own 47.62% of the company’s stock.

About Amarin

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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