Amarin (NASDAQ:AMRN) Stock Rating Upgraded by BidaskClub

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BidaskClub upgraded shares of Amarin (NASDAQ:AMRN) from a hold rating to a buy rating in a report released on Friday, BidAskClub reports.

Several other equities analysts have also issued reports on the stock. Stifel Nicolaus reissued a buy rating on shares of Amarin in a report on Tuesday, November 12th. Leerink Swann reiterated a buy rating and issued a $29.00 price target on shares of Amarin in a report on Monday, December 2nd. Oppenheimer began coverage on Amarin in a report on Tuesday, November 19th. They issued an underperform rating and a $7.00 price target on the stock. Aegis assumed coverage on Amarin in a research report on Thursday, October 31st. They issued a buy rating and a $23.00 price target for the company. Finally, Citigroup cut Amarin from a buy rating to a neutral rating in a research note on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. Amarin presently has a consensus rating of Buy and a consensus target price of $27.08.

Shares of Amarin stock opened at $22.45 on Friday. The company has a current ratio of 3.69, a quick ratio of 3.45 and a debt-to-equity ratio of 0.02. Amarin has a 1 year low of $11.78 and a 1 year high of $24.67. The firm’s 50-day moving average is $19.18 and its two-hundred day moving average is $17.80.

Amarin (NASDAQ:AMRN) last posted its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($0.01) EPS for the quarter, beating 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 26.67%. The business had revenue of $112.40 million during the quarter, compared to analyst estimates of $110.04 million. During the same quarter in the previous year, the business posted ($0.08) EPS. The company’s quarterly revenue was up 104.4% compared to the same quarter last year. Equities analysts expect that Amarin will post -0.13 EPS for the current fiscal year.

In related news, Director Lars Ekman sold 38,600 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $24.02, for a total transaction of $927,172.00. Also, CEO John F. Thero sold 475,546 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $24.02, for a total value of $11,422,614.92. Over the last ninety days, insiders have sold 788,600 shares of company stock worth $18,088,620. Insiders own 2.75% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. increased its holdings in shares of Amarin by 19.7% in the third quarter. Oppenheimer & Co. Inc. now owns 27,779 shares of the biopharmaceutical company’s stock valued at $421,000 after purchasing an additional 4,570 shares during the period. 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 acquiring an additional 7,854,902 shares during the period. 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 acquiring an additional 171,136 shares during the period. Comerica Bank raised its stake in shares of Amarin by 15.6% in the third quarter. Comerica Bank now owns 23,275 shares of the biopharmaceutical company’s stock valued at $395,000 after acquiring an additional 3,149 shares in the last quarter. Finally, Parallel Advisors LLC boosted its holdings in Amarin by 9,893.5% in the third quarter. Parallel Advisors LLC now owns 19,987 shares of the biopharmaceutical company’s stock valued at $303,000 after purchasing an additional 19,787 shares during the period. Institutional investors own 52.90% 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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