Amarin (NASDAQ:AMRN) Earns Outperform Rating from Analysts at Leerink Swann

Leerink Swann initiated coverage on shares of Amarin (NASDAQ:AMRN) in a report issued on Wednesday morning, The Fly reports. The brokerage issued an outperform rating on the biopharmaceutical company’s stock.

AMRN has been the subject of a number of other research reports. BidaskClub downgraded shares of Amarin from a hold rating to a sell rating in a research report on Wednesday, July 24th. Jefferies Financial Group reissued a buy rating and set a $30.00 price target on shares of Amarin in a research report on Tuesday, July 9th. HC Wainwright reissued a buy rating on shares of Amarin in a research report on Thursday, August 1st. Stifel Nicolaus reissued a buy rating and set a $26.00 price target on shares of Amarin in a research report on Wednesday, July 31st. Finally, Zacks Investment Research downgraded shares of Amarin from a buy rating to a hold rating in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $29.89.

AMRN stock opened at $15.15 on Wednesday. Amarin has a twelve month low of $2.65 and a twelve month high of $23.91. The company has a current ratio of 2.01, a quick ratio of 1.76 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $5.41 billion, a P/E ratio of -38.85 and a beta of 1.15. The firm has a 50 day simple moving average of $18.90 and a 200-day simple moving average of $18.67.

Amarin (NASDAQ:AMRN) last released its quarterly earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. Amarin had a negative net margin of 27.51% and a negative return on equity of 111.75%. The business had revenue of $100.40 million during the quarter, compared to the consensus estimate of $99.54 million. During the same quarter last year, the company earned ($0.10) earnings per share. The business’s quarterly revenue was up 90.9% compared to the same quarter last year. On average, research analysts predict that Amarin will post -0.2 EPS for the current year.

In other Amarin news, Director Joseph S. Zakrzewski sold 100,000 shares of Amarin stock in a transaction on Friday, July 5th. The shares were sold at an average price of $23.82, for a total value of $2,382,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Aaron Berg sold 113,195 shares of Amarin stock in a transaction on Monday, June 24th. The stock was sold at an average price of $18.59, for a total transaction of $2,104,295.05. The disclosure for this sale can be found here. In the last ninety days, insiders sold 629,214 shares of company stock valued at $12,804,139. 2.75% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Mcclain Value Management LLC boosted its holdings in shares of Amarin by 2.5% during the second quarter. Mcclain Value Management LLC now owns 23,431 shares of the biopharmaceutical company’s stock valued at $454,000 after acquiring an additional 577 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Amarin by 3.6% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 22,357 shares of the biopharmaceutical company’s stock valued at $434,000 after acquiring an additional 775 shares during the period. Global Retirement Partners LLC boosted its holdings in shares of Amarin by 30.7% during the first quarter. Global Retirement Partners LLC now owns 3,414 shares of the biopharmaceutical company’s stock valued at $71,000 after acquiring an additional 802 shares during the period. West Chester Capital Advisors Inc. boosted its holdings in shares of Amarin by 1.4% during the second quarter. West Chester Capital Advisors Inc. now owns 60,607 shares of the biopharmaceutical company’s stock valued at $1,175,000 after acquiring an additional 815 shares during the period. Finally, US Bancorp DE boosted its holdings in shares of Amarin by 16.0% during the second quarter. US Bancorp DE now owns 6,229 shares of the biopharmaceutical company’s stock valued at $121,000 after acquiring an additional 858 shares during the period. 47.88% of the stock is owned by hedge funds and other institutional investors.

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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