Amarin Corporation PLC (AMRN) Downgraded by Zacks Investment Research
Amarin Corporation PLC (NASDAQ:AMRN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.
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. “
Several other research firms have also weighed in on AMRN. BidaskClub lowered Amarin Corporation PLC from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. Cantor Fitzgerald reissued a “buy” rating and issued a $10.00 target price on shares of Amarin Corporation PLC in a report on Tuesday, August 29th. HC Wainwright reissued a “buy” rating and issued a $10.00 target price on shares of Amarin Corporation PLC in a report on Wednesday, August 9th. Finally, ValuEngine raised Amarin Corporation PLC from a “sell” rating to a “hold” rating in a report on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $7.75.
Amarin Corporation PLC (NASDAQ:AMRN) traded up $0.04 during trading on Friday, reaching $3.60. The company’s stock had a trading volume of 1,360,000 shares, compared to its average volume of 1,217,773. The company has a current ratio of 1.63, a quick ratio of 1.46 and a debt-to-equity ratio of -1.48. Amarin Corporation PLC has a 12 month low of $2.76 and a 12 month high of $4.47.
Amarin Corporation PLC (NASDAQ:AMRN) last posted its earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. The firm had revenue of $47.10 million during the quarter, compared to analyst estimates of $45.85 million. The firm’s revenue for the quarter was up 45.4% on a year-over-year basis. During the same period last year, the company posted ($0.08) EPS. equities analysts predict that Amarin Corporation PLC will post -0.21 EPS for the current year.
In other Amarin Corporation PLC news, insider Steven B. Ketchum sold 63,479 shares of Amarin Corporation PLC stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $3.48, for a total transaction of $220,906.92. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 3.72% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC grew its position in shares of Amarin Corporation PLC by 348.2% in the 1st quarter. Renaissance Technologies LLC now owns 1,730,200 shares of the biopharmaceutical company’s stock worth $5,537,000 after acquiring an additional 1,344,200 shares in the last quarter. Morgan Stanley boosted its position in Amarin Corporation PLC by 119.7% during the 1st quarter. Morgan Stanley now owns 1,138,992 shares of the biopharmaceutical company’s stock valued at $3,645,000 after purchasing an additional 620,577 shares during the period. UBS Group AG boosted its position in Amarin Corporation PLC by 7.4% during the 1st quarter. UBS Group AG now owns 731,518 shares of the biopharmaceutical company’s stock valued at $2,341,000 after purchasing an additional 50,200 shares during the period. California Public Employees Retirement System boosted its position in Amarin Corporation PLC by 13.3% during the 1st quarter. California Public Employees Retirement System now owns 533,300 shares of the biopharmaceutical company’s stock valued at $1,707,000 after purchasing an additional 62,800 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in Amarin Corporation PLC by 0.9% during the 1st quarter. Ameriprise Financial Inc. now owns 395,769 shares of the biopharmaceutical company’s stock valued at $1,266,000 after purchasing an additional 3,413 shares during the period. Institutional investors own 37.76% of the company’s stock.
About Amarin Corporation 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 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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