Kornitzer Capital Management Inc. KS Acquires 90,025 Shares of Amarin Co. plc (NASDAQ:AMRN)

Kornitzer Capital Management Inc. KS increased its holdings in Amarin Co. plc (NASDAQ:AMRN) by 41.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 307,895 shares of the biopharmaceutical company’s stock after buying an additional 90,025 shares during the period. Kornitzer Capital Management Inc. KS owned about 0.09% of Amarin worth $4,668,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of AMRN. Invesco Ltd. increased its position in shares of Amarin by 1,402.6% during the second quarter. Invesco Ltd. now owns 8,414,943 shares of the biopharmaceutical company’s stock worth $163,166,000 after purchasing an additional 7,854,902 shares in the last quarter. Bank of America Corp DE increased its position in shares of Amarin by 73.3% during the second quarter. Bank of America Corp DE now owns 404,748 shares of the biopharmaceutical company’s stock worth $7,849,000 after purchasing an additional 171,136 shares in the last quarter. Carlson Capital L P increased its position in shares of Amarin by 13.6% during the second quarter. Carlson Capital L P now owns 265,000 shares of the biopharmaceutical company’s stock worth $5,138,000 after purchasing an additional 31,625 shares in the last quarter. Envestnet Asset Management Inc. acquired a new position in shares of Amarin during the second quarter worth $213,000. Finally, Pictet Asset Management Ltd. acquired a new position in shares of Amarin during the second quarter worth $27,928,000. 45.79% of the stock is owned by institutional investors.

In other news, Director Lars Ekman sold 91,016 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $15.01, for a total transaction of $1,366,150.16. Following the sale, the director now directly owns 13,500 shares of the company’s stock, valued at approximately $202,635. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.75% of the company’s stock.

Shares of AMRN traded up $0.72 during trading hours on Friday, reaching $17.48. 8,065,300 shares of the company traded hands, compared to its average volume of 7,509,962. The business has a fifty day moving average price of $15.89 and a 200-day moving average price of $17.35. The company has a quick ratio of 1.76, a current ratio of 2.01 and a debt-to-equity ratio of 0.18. Amarin Co. plc has a 12-month low of $11.78 and a 12-month high of $23.91. The stock has a market capitalization of $6.19 billion, a P/E ratio of -44.82 and a beta of 1.14.

Amarin (NASDAQ:AMRN) last posted its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.03. Amarin had a negative net margin of 17.42% and a negative return on equity of 50.47%. The business had revenue of $112.40 million for the quarter, compared to analyst estimates of $110.04 million. During the same period in the prior year, the company posted ($0.08) EPS. The company’s revenue for the quarter was up 104.4% on a year-over-year basis. As a group, research analysts predict that Amarin Co. plc will post -0.2 EPS for the current fiscal year.

A number of equities analysts have recently issued reports on the company. Leerink Swann set a $26.00 price target on Amarin and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Jefferies Financial Group set a $30.00 price target on Amarin and gave the stock a “buy” rating in a research report on Thursday, September 12th. Aegis assumed coverage on Amarin in a research report on Thursday, October 31st. They set a “buy” rating and a $23.00 price target on the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $26.00 price target on shares of Amarin in a research report on Wednesday, July 31st. Finally, Cantor Fitzgerald set a $35.00 price target on Amarin and gave the stock a “buy” rating in a research report on Thursday, October 17th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Amarin presently has an average rating of “Buy” and a consensus target price of $27.73.

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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Institutional Ownership by Quarter for Amarin (NASDAQ:AMRN)

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