Quantamental Technologies LLC bought a new position in shares of Amarin Co. plc (NASDAQ:AMRN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,826 shares of the biopharmaceutical company’s stock, valued at approximately $74,000.
Several other hedge funds have also recently added to or reduced their stakes in AMRN. Pinnacle Associates Ltd. increased its stake in shares of Amarin by 55.1% in the first quarter. Pinnacle Associates Ltd. now owns 30,665 shares of the biopharmaceutical company’s stock worth $637,000 after purchasing an additional 10,900 shares in the last quarter. Laurel Wealth Advisors Inc. boosted its holdings in shares of Amarin by 30.5% in the 1st quarter. Laurel Wealth Advisors Inc. now owns 86,050 shares of the biopharmaceutical company’s stock valued at $1,786,000 after buying an additional 20,100 shares in the last quarter. Capital Investment Advisory Services LLC boosted its holdings in shares of Amarin by 514.3% in the 2nd quarter. Capital Investment Advisory Services LLC now owns 4,300 shares of the biopharmaceutical company’s stock valued at $78,000 after buying an additional 3,600 shares in the last quarter. Comerica Bank boosted its stake in Amarin by 8.0% in the 1st quarter. Comerica Bank now owns 18,481 shares of the biopharmaceutical company’s stock worth $360,000 after purchasing an additional 1,376 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in Amarin by 7.9% in the 2nd quarter. Commonwealth Equity Services LLC now owns 64,704 shares of the biopharmaceutical company’s stock worth $1,254,000 after purchasing an additional 4,755 shares in the last quarter. Hedge funds and other institutional investors own 47.94% of the company’s stock.
A number of analysts recently commented on the stock. Cantor Fitzgerald set a $35.00 target price on shares of Amarin and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Roth Capital set a $31.00 price objective on Amarin and gave the stock a “buy” rating in a report on Friday, September 6th. Svb Leerink started coverage on Amarin in a report on Wednesday, August 14th. They set an “outperform” rating and a $26.00 price objective for the company. BidaskClub cut Amarin from a “hold” rating to a “sell” rating in a report on Wednesday, July 24th. Finally, Leerink Swann set a $26.00 price objective on Amarin and gave the stock a “buy” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $29.50.
Shares of NASDAQ AMRN traded up $0.24 during midday trading on Thursday, hitting $16.97. The stock had a trading volume of 360,386 shares, compared to its average volume of 7,976,068. The company has a market capitalization of $6.01 billion, a price-to-earnings ratio of -43.49 and a beta of 1.27. Amarin Co. plc has a 1-year low of $2.65 and a 1-year high of $23.91. The company has a quick ratio of 1.76, a current ratio of 2.01 and a debt-to-equity ratio of 0.18. The company has a fifty day moving average price of $16.08 and a 200 day moving average price of $18.42.
Amarin (NASDAQ:AMRN) last released its quarterly earnings data on Wednesday, July 31st. The biopharmaceutical company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.01. Amarin had a negative return on equity of 111.75% and a negative net margin of 27.51%. The business had revenue of $100.40 million for the quarter, compared to analyst estimates of $99.54 million. During the same period in the previous year, the company posted ($0.10) EPS. The company’s revenue was up 90.9% compared to the same quarter last year. On average, research analysts forecast that Amarin Co. plc will post -0.2 EPS for the current year.
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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