Amarin Corporation PLC (NASDAQ:AMRN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

According to Zacks, “Amarin Corporation plc is a global pharmaceutical group which develops innovative pharmaceutical products across a range of therapeutic areas utilizing its proprietary advanced oral and transdermal drug delivery technologies. “

AMRN has been the subject of a number of other reports. HC Wainwright restated a “buy” rating and issued a $10.00 price target on shares of Amarin Corporation PLC in a research report on Wednesday, June 28th. BidaskClub upgraded Amarin Corporation PLC from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. Jefferies Group LLC raised their price target on Amarin Corporation PLC from $5.00 to $7.00 and gave the stock a “buy” rating in a research report on Friday, June 30th. Finally, Cantor Fitzgerald set a $5.00 price target on Amarin Corporation PLC and gave the stock a “buy” rating in a research report on Monday, June 12th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $7.35.

Shares of Amarin Corporation PLC (NASDAQ AMRN) traded down 0.82% on Monday, hitting $3.64. 1,445,007 shares of the company traded hands. Amarin Corporation PLC has a 1-year low of $2.56 and a 1-year high of $4.47. The stock’s market capitalization is $985.71 million. The firm’s 50 day moving average price is $3.77 and its 200-day moving average price is $3.29.

Amarin Corporation PLC (NASDAQ:AMRN) last issued its quarterly earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. The company had revenue of $44.95 million during the quarter, compared to the consensus estimate of $40.35 million. The firm’s quarterly revenue was up 37.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.07) earnings per share. On average, equities research analysts expect that Amarin Corporation PLC will post ($0.22) earnings per share for the current year.

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In related news, General Counsel Joseph T. Kennedy sold 307,911 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $4.00, for a total value of $1,231,644.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.72% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. Private Advisor Group LLC increased its stake in Amarin Corporation PLC by 2.1% in the first quarter. Private Advisor Group LLC now owns 50,170 shares of the biopharmaceutical company’s stock valued at $157,000 after buying an additional 1,032 shares during the period. Wells Fargo & Company MN increased its stake in Amarin Corporation PLC by 4.8% in the first quarter. Wells Fargo & Company MN now owns 32,801 shares of the biopharmaceutical company’s stock valued at $105,000 after buying an additional 1,500 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in Amarin Corporation PLC by 1.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 143,650 shares of the biopharmaceutical company’s stock valued at $460,000 after buying an additional 2,050 shares during the period. Ameriprise Financial Inc. increased its stake in Amarin Corporation PLC by 0.9% in the first quarter. Ameriprise Financial Inc. now owns 395,769 shares of the biopharmaceutical company’s stock valued at $1,266,000 after buying an additional 3,413 shares during the period. Finally, Perkins Capital Management Inc. increased its stake in Amarin Corporation PLC by 20.3% in the second quarter. Perkins Capital Management Inc. now owns 41,500 shares of the biopharmaceutical company’s stock valued at $167,000 after buying an additional 7,000 shares during the period. Institutional investors and hedge funds own 37.57% of the company’s stock.

Amarin Corporation PLC Company Profile

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 operates through the development and commercialization of Vascepa segment. 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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