Amarin (NASDAQ:AMRN) received a $10.00 target price from investment analysts at Cantor Fitzgerald in a research report issued to clients and investors on Wednesday. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective suggests a potential upside of 202.11% from the stock’s current price.
A number of other brokerages have also weighed in on AMRN. ValuEngine upgraded shares of Amarin from a “sell” rating to a “hold” rating in a report on Saturday, November 4th. Zacks Investment Research lowered shares of Amarin from a “buy” rating to a “hold” rating in a report on Friday, November 3rd. Jefferies Group restated a “buy” rating on shares of Amarin in a report on Wednesday, October 11th. HC Wainwright restated a “buy” rating and issued a $10.00 price objective on shares of Amarin in a report on Thursday, November 2nd. Finally, BidaskClub lowered shares of Amarin from a “sell” rating to a “strong sell” rating in a report on Thursday, August 24th. Three investment analysts have rated the stock with a sell rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $7.75.
Shares of Amarin (NASDAQ AMRN) traded up $0.08 on Wednesday, hitting $3.31. 2,103,768 shares of the stock were exchanged, compared to its average volume of 1,717,827. Amarin has a fifty-two week low of $2.81 and a fifty-two week high of $4.47. The company has a current ratio of 1.63, a quick ratio of 1.32 and a debt-to-equity ratio of -1.48.
In related news, insider Steven B. Ketchum sold 63,479 shares of Amarin stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $3.48, for a total transaction of $220,906.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider John F. Thero purchased 10,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were 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 company insiders.
A number of large investors have recently made changes to their positions in the stock. Westside Investment Management Inc. raised its stake in Amarin by 1.1% during the 2nd quarter. Westside Investment Management Inc. now owns 27,350 shares of the biopharmaceutical company’s stock worth $114,000 after acquiring an additional 300 shares in the last quarter. State Street Corp raised its stake in Amarin by 1.3% during the 2nd quarter. State Street Corp now owns 201,995 shares of the biopharmaceutical company’s stock worth $814,000 after acquiring an additional 2,640 shares in the last quarter. Wells Fargo & Company MN raised its stake in Amarin by 15.2% during the 2nd quarter. Wells Fargo & Company MN now owns 37,801 shares of the biopharmaceutical company’s stock worth $152,000 after acquiring an additional 5,000 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its stake in Amarin by 94.2% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 87,104 shares of the biopharmaceutical company’s stock worth $351,000 after acquiring an additional 42,246 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Amarin during the 3rd quarter worth $226,000. Hedge funds and other institutional investors own 40.17% of the company’s stock.
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Amarin 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.
