Amarin (NASDAQ:AMRN) Now Covered by Svb Leerink

Investment analysts at Svb Leerink initiated coverage on shares of Amarin (NASDAQ:AMRN) in a research report issued to clients and investors on Wednesday, Briefing.com Automated Import reports. The brokerage set an “outperform” rating and a $26.00 price target on the biopharmaceutical company’s stock. Svb Leerink’s price objective indicates a potential upside of 78.63% from the stock’s previous close.

A number of other analysts have also weighed in on AMRN. Leerink Swann began coverage on shares of Amarin in a research note on Wednesday. They issued an “outperform” rating for the company. HC Wainwright reaffirmed a “buy” rating on shares of Amarin in a research note on Thursday, August 1st. Cantor Fitzgerald set a $35.00 price target on shares of Amarin and gave the stock a “buy” rating in a research note on Friday, August 9th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $26.00 price target on shares of Amarin in a research note on Wednesday, July 31st. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $30.00 price target on shares of Amarin in a research note on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Amarin currently has a consensus rating of “Buy” and an average target price of $29.89.

Shares of NASDAQ:AMRN traded up $0.27 during trading on Wednesday, reaching $14.56. The company had a trading volume of 2,761,078 shares, compared to its average volume of 8,108,857. The business’s fifty day moving average is $19.13. The firm has a market cap of $5.10 billion, a price-to-earnings ratio of -37.32 and a beta of 1.15. Amarin has a twelve month low of $2.65 and a twelve month high of $23.91. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.01 and a quick ratio of 1.76.

Amarin (NASDAQ:AMRN) last issued its quarterly earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The company had revenue of $100.40 million during the quarter, compared to analyst estimates of $99.54 million. Amarin had a negative net margin of 27.51% and a negative return on equity of 111.75%. The business’s revenue for the quarter was up 90.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.10) EPS. On average, research analysts forecast that Amarin will post -0.2 EPS for the current year.

In related news, Director Joseph S. Zakrzewski sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $23.82, for a total value of $2,382,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director David M. Stack sold 51,991 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $22.28, for a total transaction of $1,158,359.48. The disclosure for this sale can be found here. Insiders sold a total of 642,388 shares of company stock worth $13,041,271 over the last quarter. Insiders own 2.75% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mcclain Value Management LLC raised its holdings in shares of Amarin by 2.5% during the second quarter. Mcclain Value Management LLC now owns 23,431 shares of the biopharmaceutical company’s stock valued at $454,000 after acquiring an additional 577 shares during the period. Global Retirement Partners LLC raised its holdings in shares of Amarin by 30.7% during the first quarter. Global Retirement Partners LLC now owns 3,414 shares of the biopharmaceutical company’s stock valued at $71,000 after acquiring an additional 802 shares during the period. West Chester Capital Advisors Inc. raised its holdings in shares of Amarin by 1.4% during the second quarter. West Chester Capital Advisors Inc. now owns 60,607 shares of the biopharmaceutical company’s stock valued at $1,175,000 after acquiring an additional 815 shares during the period. US Bancorp DE raised its holdings in shares of Amarin by 16.0% during the second quarter. US Bancorp DE now owns 6,229 shares of the biopharmaceutical company’s stock valued at $121,000 after acquiring an additional 858 shares during the period. Finally, Glen Harbor Capital Management LLC raised its holdings in shares of Amarin by 4.0% during the second quarter. Glen Harbor Capital Management LLC now owns 22,616 shares of the biopharmaceutical company’s stock valued at $439,000 after acquiring an additional 880 shares during the period. Institutional investors and hedge funds own 47.88% of the company’s stock.

Amarin Company Profile

Amarin Corp. Plc is a biopharmaceutical company, which focuses on the commercialization and development of therapeutics for cardiovascular health. Its product development program leverages its experience in lipid science and the potential therapeutic benefits of polyunsaturated fatty acids. It has developed and markets Vascepa capsules through wholesale.

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Analyst Recommendations for Amarin (NASDAQ:AMRN)

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