Amarin (NASDAQ:AMRN) Raised to “Buy” at BidaskClub

BidaskClub upgraded shares of Amarin (NASDAQ:AMRN) from a hold rating to a buy rating in a research note issued to investors on Friday, BidAskClub reports.

AMRN has been the subject of a number of other reports. HC Wainwright restated a buy rating on shares of Amarin in a research note on Wednesday, November 6th. Zacks Investment Research raised Amarin from a hold rating to a strong-buy rating and set a $20.00 price target for the company in a report on Thursday, November 7th. Cantor Fitzgerald reiterated a buy rating and set a $35.00 price target on shares of Amarin in a research report on Monday, December 2nd. Citigroup lowered shares of Amarin from a buy rating to a neutral rating in a report on Wednesday, November 27th. Finally, Svb Leerink raised their price objective on shares of Amarin from $26.00 to $29.00 and gave the company an outperform rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of Buy and an average price target of $27.08.

NASDAQ AMRN opened at $22.57 on Friday. The firm has a market cap of $8.02 billion, a PE ratio of -57.87 and a beta of 1.14. Amarin has a one year low of $11.78 and a one year high of $24.67. The stock’s 50 day simple moving average is $19.56 and its 200 day simple moving average is $17.88. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.69 and a quick ratio of 3.45.

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

In related news, CEO John F. Thero sold 475,546 shares of Amarin stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $24.02, for a total value of $11,422,614.92. Also, CEO John F. Thero sold 274,454 shares of Amarin stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $20.91, for a total value of $5,738,833.14. Insiders have sold 788,600 shares of company stock worth $18,088,620 in the last ninety days. 2.75% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Invesco Ltd. grew its position in shares of Amarin by 1,402.6% during the 2nd quarter. Invesco Ltd. now owns 8,414,943 shares of the biopharmaceutical company’s stock worth $163,166,000 after buying an additional 7,854,902 shares during the period. Pictet Asset Management Ltd. acquired a new stake in Amarin during the 2nd quarter worth $27,928,000. Farallon Capital Management LLC grew its holdings in Amarin by 30.8% during the 2nd quarter. Farallon Capital Management LLC now owns 4,250,000 shares of the biopharmaceutical company’s stock worth $82,408,000 after acquiring an additional 1,000,000 shares during the period. Morgan Stanley raised its position in shares of Amarin by 28.9% during the 2nd quarter. Morgan Stanley now owns 1,639,098 shares of the biopharmaceutical company’s stock valued at $31,782,000 after acquiring an additional 367,369 shares during the last quarter. Finally, Squarepoint Ops LLC raised its position in shares of Amarin by 154.3% during the 3rd quarter. Squarepoint Ops LLC now owns 381,155 shares of the biopharmaceutical company’s stock valued at $5,778,000 after acquiring an additional 231,300 shares during the last quarter. Institutional investors own 52.90% of the company’s stock.

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.

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Analyst Recommendations for Amarin (NASDAQ:AMRN)

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