Amarin Corp. PLC (AMRN) Receives New Coverage from Analysts at Citigroup Inc.
Investment analysts at Citigroup Inc. initiated coverage on shares of Amarin Corp. PLC (NASDAQ:AMRN) in a research report issued on Wednesday. The firm set a “buy” rating on the biopharmaceutical company’s stock.
Other equities analysts also recently issued reports about the stock. HC Wainwright reissued a “buy” rating and issued a $10.00 price target on shares of Amarin Corp. PLC in a research note on Monday, August 8th. Cantor Fitzgerald began coverage on shares of Amarin Corp. PLC in a research note on Tuesday, October 4th. They set a “buy” rating and a $6.00 target price on the stock. Jefferies Group reaffirmed a “buy” rating and set a $3.50 target price on shares of Amarin Corp. PLC in a research note on Thursday, July 7th. Finally, Zacks Investment Research raised shares of Amarin Corp. PLC from a “sell” rating to a “hold” rating in a research note on Wednesday, July 6th. Five equities research analysts have rated the stock with a buy rating, Amarin Corp. PLC has an average rating of “Buy” and a consensus price target of $5.81.
Amarin Corp. PLC (NASDAQ:AMRN) opened at 3.00 on Wednesday. Amarin Corp. PLC has a 1-year low of $1.24 and a 1-year high of $3.46. The company’s market capitalization is $553.65 million. The stock’s 50 day moving average is $2.99 and its 200-day moving average is $2.41.
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Amarin Corp. PLC (NASDAQ:AMRN) last posted its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.06. The business earned $32.82 million during the quarter, compared to analysts’ expectations of $29.97 million. The business’s quarterly revenue was up 85.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.15) earnings per share. On average, analysts expect that Amarin Corp. PLC will post ($0.42) earnings per share for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. Timber Hill LLC increased its stake in Amarin Corp. PLC by 229.8% in the second quarter. Timber Hill LLC now owns 53,504 shares of the biopharmaceutical company’s stock worth $116,000 after buying an additional 37,283 shares during the period. KCG Holdings Inc. increased its stake in Amarin Corp. PLC by 1.2% in the second quarter. KCG Holdings Inc. now owns 73,026 shares of the biopharmaceutical company’s stock worth $158,000 after buying an additional 900 shares during the period. Acadian Asset Management LLC bought a new stake in Amarin Corp. PLC during the second quarter worth about $210,000. State Street Corp increased its stake in Amarin Corp. PLC by 2.4% in the second quarter. State Street Corp now owns 104,259 shares of the biopharmaceutical company’s stock worth $225,000 after buying an additional 2,491 shares during the period. Finally, ProShare Advisors LLC increased its stake in Amarin Corp. PLC by 0.9% in the second quarter. ProShare Advisors LLC now owns 132,338 shares of the biopharmaceutical company’s stock worth $286,000 after buying an additional 1,180 shares during the period. 20.76% of the stock is currently owned by institutional investors and hedge funds.
About Amarin Corp. PLC
Amarin Corporation plc is a biopharmaceutical company with operations in lipid science focused on the commercialization and development of therapeutics for cardiovascular health. The Company’s lead product, Vascepa (icosapent ethyl) capsule, is approved by the United States Food and Drug Administration (FDA) for use as an adjunct to diet to reduce triglyceride levels in adult patients with severe hypertriglyceridemia.
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