Amarin (NASDAQ:AMRN) received a $10.00 price objective from analysts at Cantor Fitzgerald in a research report issued to clients and investors on Tuesday. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price would indicate a potential upside of 147.52% from the company’s previous close.
Other analysts also recently issued reports about the company. BidaskClub raised Amarin from a “hold” rating to a “buy” rating in a research report on Friday, December 29th. HC Wainwright reissued a “buy” rating and issued a $10.00 target price on shares of Amarin in a research report on Thursday, November 2nd. Jefferies Group reissued a “buy” rating on shares of Amarin in a research report on Wednesday, October 11th. Zacks Investment Research raised Amarin from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a research report on Tuesday, October 3rd. Finally, ValuEngine raised Amarin from a “sell” rating to a “hold” rating in a research report on Saturday, November 4th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $7.75.
Shares of Amarin (NASDAQ AMRN) opened at $4.04 on Tuesday. The company has a debt-to-equity ratio of -1.48, a current ratio of 1.63 and a quick ratio of 1.32. Amarin has a 52-week low of $2.81 and a 52-week high of $4.47. The stock has a market capitalization of $1,075.39, a price-to-earnings ratio of -14.96 and a beta of 0.62.
In related news, insider John F. Thero purchased 10,000 shares of Amarin stock in a transaction dated Thursday, November 30th. The stock was bought at an average cost of $3.24 per share, for a total transaction of $32,400.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Joseph T. Kennedy sold 51,106 shares of Amarin stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $4.10, for a total value of $209,534.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 246,658 shares of company stock valued at $1,050,725. 3.72% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. Consonance Capital Management LP bought a new stake in Amarin during the third quarter valued at $78,641,000. Baker BROS. Advisors LP bought a new stake in Amarin during the third quarter worth about $65,811,000. Oracle Investment Management Inc. lifted its stake in Amarin by 9.4% during the fourth quarter. Oracle Investment Management Inc. now owns 6,645,793 shares of the biopharmaceutical company’s stock worth $12,561,000 after purchasing an additional 568,915 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Amarin by 6,326.7% during the third quarter. Acadian Asset Management LLC now owns 6,264,045 shares of the biopharmaceutical company’s stock worth $19,982,000 after purchasing an additional 6,166,576 shares during the last quarter. Finally, Tamarack Advisers LP bought a new stake in Amarin during the fourth quarter worth about $10,395,000. 40.14% of the stock is owned by institutional investors.
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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.
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