Cantor Fitzgerald set a $10.00 target price on Amarin (NASDAQ:AMRN) in a report released on Tuesday morning. The firm currently has a buy rating on the biopharmaceutical company’s stock. Cantor Fitzgerald also issued estimates for Amarin’s FY2017 earnings at ($0.21) EPS and FY2018 earnings at ($0.26) EPS.
“We like AMRN shares. The stock is off a little intraday post a good qtr, but we believe that headlines regarding a higher than expected non-cash tax expense are weighing on shares. We would note the company had already called out this tax item ahead of the quarterly report. We see no fundamental reason for the weakness today.”,” the firm’s analyst wrote.
AMRN has been the topic of a number of other research reports. Zacks Investment Research cut shares of Amarin from a buy rating to a hold rating in a research report on Friday, November 3rd. BidaskClub upgraded shares of Amarin from a sell rating to a hold rating in a research report on Thursday, December 21st. ValuEngine upgraded shares of Amarin from a sell rating to a hold rating in a research report on Wednesday, December 20th. Finally, HC Wainwright reiterated a buy rating and issued a $10.00 target price on shares of Amarin in a research report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $7.75.
Amarin (NASDAQ:AMRN) last posted its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.03). The firm had revenue of $53.87 million for the quarter, compared to analysts’ expectations of $52.73 million. The business’s quarterly revenue was up 39.2% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.10) EPS. equities analysts forecast that Amarin will post -0.22 earnings per share for the current year.
In other Amarin news, insider John F. Thero bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were bought at an average price of $3.24 per share, for a total transaction of $32,400.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Steven B. Ketchum sold 135,205 shares of Amarin stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $4.41, for a total transaction of $596,254.05. The disclosure for this sale can be found here. In the last quarter, insiders sold 426,720 shares of company stock worth $1,814,296. 3.72% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Wells Fargo & Company MN increased its position in shares of Amarin by 15.2% in the second quarter. Wells Fargo & Company MN now owns 37,801 shares of the biopharmaceutical company’s stock valued at $152,000 after acquiring an additional 5,000 shares during the period. State Street Corp increased its position in shares of Amarin by 1.3% in the second quarter. State Street Corp now owns 201,995 shares of the biopharmaceutical company’s stock valued at $814,000 after acquiring an additional 2,640 shares during the period. Stevens Capital Management LP purchased a new position in shares of Amarin in the third quarter valued at about $229,000. TD Asset Management Inc. purchased a new position in shares of Amarin in the third quarter valued at about $285,000. Finally, University of Notre Dame DU Lac purchased a new position in shares of Amarin in the third quarter valued at about $2,814,000. Institutional investors own 37.28% of the company’s stock.
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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