Amarin Co. plc Price Target Increased to $9.00 by Analysts at Goldman Sachs Group Inc. (AMRN)
Research analysts at Goldman Sachs Group Inc. upped their price target on shares of Amarin Co. plc (NASDAQ:AMRN) from $3.00 to $9.00 in a report released on Wednesday, American Banking News.com reports. The firm currently has a “neutral” rating on the stock. Goldman Sachs Group Inc.’s target price would suggest a potential upside of 34.53% from the stock’s previous close.
The analysts wrote, “Given that the upcoming advisory panel for AMRN’s Vascepa in the expanded ANCHOR indication on Oct. 16 is such an important catalyst (followed by the PDUFA on Dec. 20), we wanted to try and frame the potential outcomes and what we think it could mean to the stock, as well as provide an options strategy. We continue to believe there is a greater than 50% chance for a favorable outcome (we estimate ~60%). However, we view the overall risk/reward in the stock going into this event as being less favorable given reasonably high expectations. We remain Neutral.”
Amarin Co. plc (NASDAQ:AMRN) traded down 5.08% during mid-day trading on Wednesday, hitting $6.35. 6,492,461 shares of the company’s stock traded hands. Amarin Co. plc has a 52-week low of $5.12 and a 52-week high of $12.96. The stock has a 50-day moving average of $6.55 and a 200-day moving average of $6.49. The company’s market cap is $1.096 billion. Amarin Co. plc also was the target of unusually large options trading on Monday. Traders bought 24,205 call options on the stock. This represents an increase of approximately 183% compared to the average daily volume of 8,556 call options.
Amarin Co. plc (NASDAQ:AMRN) last announced its earnings results on Thursday, August 8th. The company reported ($0.26) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.38) by $0.12. The company had revenue of $5.50 million for the quarter. Analysts expect that Amarin Co. plc will post $-1.36 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at JPMorgan Chase & Co. cut their price target on shares of Amarin Co. plc from $12.00 to $11.00 in a research note to investors on Friday, September 13th. They now have an “overweight” rating on the stock. Separately, analysts at Aegis reiterated a “buy” rating on shares of Amarin Co. plc in a research note to investors on Friday, September 13th. They now have a $30.00 price target on the stock. Finally, analysts at SunTrust initiated coverage on shares of Amarin Co. plc in a research note to investors on Wednesday, September 4th. They set a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Amarin Co. plc has an average rating of “Buy” and an average target price of $13.19.
Amarin Corporation plc (NASDAQ:AMRN) is a late-stage biopharmaceutical -company with expertise in lipid science focused on the treatment of cardiovascular disease.
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