Amarin (NASDAQ:AMRN) Research Coverage Started at Leerink Swann

Analysts at Leerink Swann initiated coverage on shares of Amarin (NASDAQ:AMRN) in a research note issued on Wednesday, The Fly reports. The firm set an “outperform” rating on the biopharmaceutical company’s stock.

Several other brokerages have also recently weighed in on AMRN. BidaskClub cut shares of Amarin from a “hold” rating to a “sell” rating in a research note on Wednesday, July 24th. Zacks Investment Research cut shares of Amarin from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Cantor Fitzgerald set a $35.00 price objective on shares of Amarin and gave the stock a “buy” rating in a research note on Friday, August 9th. Roth Capital initiated coverage on shares of Amarin in a report on Monday, June 17th. They issued a “buy” rating and a $31.00 target price on the stock. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $26.00 target price on shares of Amarin in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Amarin currently has a consensus rating of “Buy” and a consensus price target of $30.38.

Shares of Amarin stock opened at $14.29 on Wednesday. Amarin has a twelve month low of $2.65 and a twelve month high of $23.91. The company has a quick ratio of 1.76, a current ratio of 2.01 and a debt-to-equity ratio of 0.18. The business has a 50-day simple moving average of $19.13. The firm has a market cap of $5.10 billion, a PE ratio of -36.64 and a beta of 1.15.

Amarin (NASDAQ:AMRN) last issued its quarterly earnings data on Wednesday, July 31st. The biopharmaceutical company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.01. Amarin had a negative net margin of 27.51% and a negative return on equity of 111.75%. The business had revenue of $100.40 million during the quarter, compared to analysts’ expectations of $99.54 million. During the same quarter in the previous year, the company earned ($0.10) EPS. The business’s revenue was up 90.9% on a year-over-year basis. On average, equities 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 Amarin stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $23.82, for a total transaction of $2,382,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Joseph T. Kennedy sold 27,229 shares of Amarin stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $17.92, for a total transaction of $487,943.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 642,388 shares of company stock worth $13,041,271. Insiders own 2.75% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Mcclain Value Management LLC grew its holdings in shares of Amarin by 2.5% during the 2nd quarter. Mcclain Value Management LLC now owns 23,431 shares of the biopharmaceutical company’s stock valued at $454,000 after purchasing an additional 577 shares during the last quarter. Global Retirement Partners LLC grew its holdings in shares of Amarin by 30.7% during the 1st quarter. Global Retirement Partners LLC now owns 3,414 shares of the biopharmaceutical company’s stock valued at $71,000 after purchasing an additional 802 shares during the last quarter. West Chester Capital Advisors Inc. grew its holdings in shares of Amarin by 1.4% during the 2nd quarter. West Chester Capital Advisors Inc. now owns 60,607 shares of the biopharmaceutical company’s stock valued at $1,175,000 after purchasing an additional 815 shares during the last quarter. US Bancorp DE grew its holdings in shares of Amarin by 16.0% during the 2nd quarter. US Bancorp DE now owns 6,229 shares of the biopharmaceutical company’s stock valued at $121,000 after purchasing an additional 858 shares during the last quarter. Finally, Glen Harbor Capital Management LLC grew its holdings in shares of Amarin by 4.0% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 22,616 shares of the biopharmaceutical company’s stock valued at $439,000 after purchasing an additional 880 shares during the last quarter. 47.88% of the stock is currently owned by institutional investors.

About Amarin

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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