Amarin (NASDAQ:AMRN) PT Raised to $29.00

Amarin (NASDAQ:AMRN) had its target price upped by equities research analysts at Svb Leerink from $26.00 to $29.00 in a research report issued on Friday, Briefing.com Automated Import reports. The brokerage presently has an “outperform” rating on the biopharmaceutical company’s stock. Svb Leerink’s price objective would indicate a potential upside of 20.73% from the stock’s current price.

AMRN has been the topic of a number of other reports. BidaskClub raised Amarin from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Zacks Investment Research raised Amarin from a “hold” rating to a “strong-buy” rating and set a $20.00 price objective on the stock in a report on Thursday, November 7th. Jefferies Financial Group set a $30.00 price objective on Amarin and gave the company a “buy” rating in a report on Thursday, September 12th. Cantor Fitzgerald reissued a “buy” rating and set a $35.00 price objective on shares of Amarin in a report on Wednesday. Finally, ValuEngine cut Amarin from a “strong-buy” rating to a “buy” rating in a report on Thursday. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $28.27.

Shares of AMRN stock traded up $2.53 on Friday, hitting $24.02. 49,194,100 shares of the stock were exchanged, compared to its average volume of 8,923,226. The firm’s 50 day moving average is $16.36 and its two-hundred day moving average is $17.40. Amarin has a one year low of $11.78 and a one year high of $24.67. The firm has a market capitalization of $7.68 billion, a PE ratio of -61.59 and a beta of 1.14. The company has a current ratio of 3.69, a quick ratio of 3.45 and a debt-to-equity ratio of 0.02.

Amarin (NASDAQ:AMRN) last announced its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($0.01) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.03. The company had revenue of $112.40 million for the quarter, compared to analysts’ expectations of $110.04 million. Amarin had a negative return on equity of 26.67% and a negative net margin of 17.42%. Amarin’s revenue for the quarter was up 104.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.08) EPS. On average, sell-side analysts expect that Amarin will post -0.13 earnings per share for the current year.

In other Amarin news, CEO John F. Thero sold 475,546 shares of Amarin stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $24.02, for a total value of $11,422,614.92. Also, Director Lars Ekman sold 91,016 shares of Amarin stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $15.01, for a total value of $1,366,150.16. Following the completion of the transaction, the director now directly owns 13,500 shares in the company, valued at $202,635. The disclosure for this sale can be found here. Insiders sold a total of 605,162 shares of company stock worth $13,715,937 over the last ninety days. Insiders own 2.75% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Mcclain Value Management LLC increased its stake in Amarin by 2.5% in the 2nd quarter. Mcclain Value Management LLC now owns 23,431 shares of the biopharmaceutical company’s stock worth $454,000 after purchasing an additional 577 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in Amarin by 3.6% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 22,357 shares of the biopharmaceutical company’s stock worth $434,000 after purchasing an additional 775 shares during the period. West Chester Capital Advisors Inc. increased its stake in Amarin by 1.4% in the 2nd quarter. West Chester Capital Advisors Inc. now owns 60,607 shares of the biopharmaceutical company’s stock worth $1,175,000 after purchasing an additional 815 shares during the period. US Bancorp DE increased its stake in Amarin by 16.0% in the 2nd quarter. US Bancorp DE now owns 6,229 shares of the biopharmaceutical company’s stock worth $121,000 after purchasing an additional 858 shares during the period. Finally, Glen Harbor Capital Management LLC increased its stake in Amarin by 4.0% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 22,616 shares of the biopharmaceutical company’s stock worth $439,000 after purchasing an additional 880 shares during the period. 45.93% of the stock is currently owned by institutional investors and hedge funds.

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.

See Also: What is meant by holder of record?

Analyst Recommendations for Amarin (NASDAQ:AMRN)

Receive News & Ratings for Amarin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amarin and related companies with MarketBeat.com's FREE daily email newsletter.