Amarin (AMRN) Given a $10.00 Price Target by Cantor Fitzgerald Analysts

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Amarin (NASDAQ:AMRN) has been assigned a $10.00 price objective by investment analysts at Cantor Fitzgerald in a research note issued on Tuesday. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target points to a potential upside of 205.81% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. HC Wainwright reiterated a “buy” rating on shares of Amarin in a report on Thursday, March 1st. ValuEngine upgraded shares of Amarin from a “hold” rating to a “buy” rating in a report on Thursday, May 31st. BidaskClub raised shares of Amarin from a “sell” rating to a “hold” rating in a research note on Wednesday, May 30th. Finally, Zacks Investment Research raised shares of Amarin from a “sell” rating to a “hold” rating in a research note on Monday, May 7th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Amarin presently has an average rating of “Buy” and a consensus target price of $7.75.

Shares of Amarin opened at $3.27 on Tuesday, according to Marketbeat.com. The company has a quick ratio of 1.45, a current ratio of 1.74 and a debt-to-equity ratio of -2.30. The stock has a market capitalization of $1.02 billion, a PE ratio of -13.08 and a beta of 0.81. Amarin has a 52-week low of $2.66 and a 52-week high of $4.60.

Amarin (NASDAQ:AMRN) last announced its quarterly earnings results on Wednesday, May 2nd. The biopharmaceutical company reported ($0.08) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.08). The company had revenue of $43.80 million during the quarter, compared to analysts’ expectations of $43.75 million. The business’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.08) EPS. equities research analysts forecast that Amarin will post -0.37 EPS for the current fiscal year.

In related news, General Counsel Joseph T. Kennedy sold 26,942 shares of the stock in a transaction dated Tuesday, April 3rd. The shares were sold at an average price of $2.90, for a total value of $78,131.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.08% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Paloma Partners Management Co acquired a new stake in Amarin in the 4th quarter valued at about $141,000. Hoylecohen LLC acquired a new stake in Amarin in the 4th quarter valued at about $142,000. Private Advisor Group LLC grew its stake in Amarin by 81.8% in the 1st quarter. Private Advisor Group LLC now owns 64,293 shares of the biopharmaceutical company’s stock valued at $194,000 after acquiring an additional 28,929 shares during the last quarter. DRW Securities LLC grew its stake in Amarin by 45.1% in the 1st quarter. DRW Securities LLC now owns 80,400 shares of the biopharmaceutical company’s stock valued at $242,000 after acquiring an additional 25,000 shares during the last quarter. Finally, Claraphi Advisory Network LLC grew its stake in Amarin by 637.3% in the 1st quarter. Claraphi Advisory Network LLC now owns 85,309 shares of the biopharmaceutical company’s stock valued at $257,000 after acquiring an additional 73,738 shares during the last quarter. 42.51% of the stock is currently owned by hedge funds and other institutional investors.

Amarin Company Profile

Amarin Corporation plc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for the treatment of cardiovascular diseases in the United States. The company's lead product is Vascepa, a prescription-only omega-3 fatty acid capsule, used as an adjunct to diet for reducing triglyceride levels in adult patients with severe hypertriglyceridemia.

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