Insider Selling: Amarin Co. plc (AMRN) General Counsel Sells 51,106 Shares of Stock

Amarin Co. plc (NASDAQ:AMRN) General Counsel Joseph T. Kennedy sold 51,106 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $4.10, for a total value of $209,534.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Shares of Amarin Co. plc (NASDAQ AMRN) traded down $0.11 during mid-day trading on Wednesday, reaching $4.00. The company’s stock had a trading volume of 3,530,000 shares, compared to its average volume of 1,720,000. The company has a market capitalization of $1,080.00, a P/E ratio of -14.81 and a beta of 0.62. The company has a debt-to-equity ratio of -1.48, a quick ratio of 1.32 and a current ratio of 1.63. Amarin Co. plc has a 1-year low of $2.81 and a 1-year high of $4.47.

Amarin (NASDAQ:AMRN) last issued its earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.01. The business had revenue of $47.10 million during the quarter, compared to the consensus estimate of $45.85 million. The company’s revenue for the quarter was up 45.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.08) earnings per share. research analysts predict that Amarin Co. plc will post -0.22 EPS for the current year.

A number of hedge funds have recently modified their holdings of the business. Westside Investment Management Inc. increased its holdings in Amarin by 1.1% in the second quarter. Westside Investment Management Inc. now owns 27,350 shares of the biopharmaceutical company’s stock worth $114,000 after purchasing an additional 300 shares in the last quarter. State Street Corp increased its holdings in Amarin by 1.3% in the second quarter. State Street Corp now owns 201,995 shares of the biopharmaceutical company’s stock worth $814,000 after purchasing an additional 2,640 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Amarin by 15.2% in the second quarter. Wells Fargo & Company MN now owns 37,801 shares of the biopharmaceutical company’s stock worth $152,000 after purchasing an additional 5,000 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its holdings in Amarin by 94.2% in the second quarter. Dynamic Technology Lab Private Ltd now owns 87,104 shares of the biopharmaceutical company’s stock worth $351,000 after purchasing an additional 42,246 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in Amarin in the third quarter worth approximately $226,000. Institutional investors and hedge funds own 40.12% of the company’s stock.

A number of equities analysts have recently issued reports on the company. Cantor Fitzgerald restated a “buy” rating and set a $10.00 price objective on shares of Amarin in a research report on Tuesday, September 26th. Zacks Investment Research upgraded Amarin from a “sell” rating to a “hold” rating in a research report on Tuesday, January 2nd. ValuEngine upgraded Amarin from a “sell” rating to a “hold” rating in a research report on Saturday, November 4th. BidaskClub upgraded Amarin from a “sell” rating to a “hold” rating in a research report on Thursday, December 21st. Finally, HC Wainwright restated a “buy” rating and set a $10.00 price objective on shares of Amarin in a research report on Thursday, November 2nd. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $7.75.

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About Amarin

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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