Amarin (AMRN) PT Set at $10.00 by Cantor Fitzgerald
Amarin (NASDAQ:AMRN) has been given a $10.00 target price by research analysts at Cantor Fitzgerald in a report issued on Wednesday. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price would indicate a potential upside of 218.47% from the stock’s current price.
Other equities research analysts have also recently issued research reports about the stock. BidaskClub cut shares of Amarin from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 24th. HC Wainwright reissued a “buy” rating and issued a $10.00 price target on shares of Amarin in a research note on Wednesday, August 9th. ValuEngine raised shares of Amarin from a “sell” rating to a “hold” rating in a research note on Thursday, August 31st. Zacks Investment Research cut shares of Amarin from a “buy” rating to a “hold” rating in a research note on Friday, November 3rd. Finally, Jefferies Group reissued a “buy” rating on shares of Amarin in a research note on Wednesday, October 11th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $7.75.
Amarin (AMRN) traded up $0.08 during trading hours on Wednesday, hitting $3.14. 1,243,615 shares of the stock were exchanged, compared to its average volume of 1,712,315. The company has a current ratio of 1.63, a quick ratio of 1.32 and a debt-to-equity ratio of -1.48. Amarin has a twelve month low of $2.81 and a twelve month high of $4.47.
In related news, insider Steven B. Ketchum sold 63,479 shares of the business’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $3.48, for a total value of $220,906.92. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John F. Thero acquired 10,000 shares of Amarin stock in a transaction that occurred on Thursday, November 30th. The stock was bought at an average price of $3.24 per share, for a total transaction of $32,400.00. The disclosure for this purchase can be found here. 3.72% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of AMRN. JPMorgan Chase & Co. increased its stake in Amarin by 27.1% during the first quarter. JPMorgan Chase & Co. now owns 35,590 shares of the biopharmaceutical company’s stock worth $114,000 after purchasing an additional 7,580 shares during the period. Westside Investment Management Inc. grew its position in shares of Amarin by 1.1% during the second quarter. Westside Investment Management Inc. now owns 27,350 shares of the biopharmaceutical company’s stock worth $114,000 after buying an additional 300 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Amarin by 15.2% during the second quarter. Wells Fargo & Company MN now owns 37,801 shares of the biopharmaceutical company’s stock worth $152,000 after buying an additional 5,000 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Amarin during the third quarter worth about $226,000. Finally, Stevens Capital Management LP acquired a new position in shares of Amarin during the third quarter worth about $229,000. Institutional investors own 40.17% of the company’s stock.
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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