Amarin (NASDAQ:AMRN) Rating Reiterated by Cantor Fitzgerald

Amarin (NASDAQ:AMRN)‘s stock had its “buy” rating reissued by investment analysts at Cantor Fitzgerald in a research report issued on Monday, TipRanks reports. They currently have a $35.00 target price on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 63.55% from the company’s current price.

Several other research firms have also weighed in on AMRN. Citigroup lowered Amarin from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 27th. HC Wainwright reaffirmed a “buy” rating on shares of Amarin in a research report on Wednesday, November 6th. Goldman Sachs Group assumed coverage on Amarin in a research report on Tuesday, October 15th. They set a “neutral” rating and a $17.00 price target on the stock. Oppenheimer assumed coverage on Amarin in a research report on Tuesday, November 19th. They set an “underperform” rating and a $7.00 price target on the stock. Finally, TheStreet raised Amarin from a “d” rating to a “c-” rating in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Amarin currently has a consensus rating of “Buy” and an average target price of $27.08.

Shares of NASDAQ:AMRN traded up $0.13 during trading on Monday, hitting $21.40. 6,075,023 shares of the company’s stock traded hands, compared to its average volume of 8,160,799. Amarin has a 52 week low of $11.78 and a 52 week high of $24.67. The company has a current ratio of 3.69, a quick ratio of 3.45 and a debt-to-equity ratio of 0.02. The company has a market cap of $7.60 billion, a price-to-earnings ratio of -54.87 and a beta of 1.14. The company has a 50-day moving average price of $18.28 and a 200-day moving average price of $17.64.

Amarin (NASDAQ:AMRN) last released its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($0.01) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. Amarin had a negative return on equity of 26.67% and a negative net margin of 17.42%. The business had revenue of $112.40 million for the quarter, compared to analysts’ expectations of $110.04 million. During the same quarter in the previous year, the business posted ($0.08) EPS. Amarin’s revenue for the quarter was up 104.4% on a year-over-year basis. On average, analysts predict that Amarin will post -0.13 earnings per share for the current fiscal year.

In related news, Director Lars Ekman sold 38,600 shares of the business’s stock in a transaction that occurred 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 business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $24.02, for a total value of $11,422,614.92. Insiders have sold a total of 879,616 shares of company stock worth $19,454,770 over the last three months. 2.75% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of the stock. Invesco Ltd. increased its holdings in shares of Amarin by 1,402.6% during the 2nd 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 last quarter. Farallon Capital Management LLC increased its holdings in shares of Amarin by 30.8% during the 2nd quarter. Farallon Capital Management LLC now owns 4,250,000 shares of the biopharmaceutical company’s stock worth $82,408,000 after acquiring an additional 1,000,000 shares during the last quarter. Pictet Asset Management Ltd. increased its holdings in shares of Amarin by 31.0% during the 3rd quarter. Pictet Asset Management Ltd. now owns 1,886,232 shares of the biopharmaceutical company’s stock worth $28,595,000 after acquiring an additional 445,895 shares during the last quarter. EULAV Asset Management increased its holdings in shares of Amarin by 12.3% during the 2nd quarter. EULAV Asset Management now owns 1,740,000 shares of the biopharmaceutical company’s stock worth $33,739,000 after acquiring an additional 190,000 shares during the last quarter. Finally, Morgan Stanley increased its holdings in shares of Amarin by 28.9% during the 2nd quarter. Morgan Stanley now owns 1,639,098 shares of the biopharmaceutical company’s stock worth $31,782,000 after acquiring an additional 367,369 shares during the last quarter. 52.87% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Amarin (NASDAQ:AMRN)

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