Leerink Swann Analysts Give Amarin (NASDAQ:AMRN) a $26.00 Price Target

Leerink Swann set a $26.00 price target on Amarin (NASDAQ:AMRN) in a research report sent to investors on Tuesday, TipRanks reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Other equities analysts have also recently issued research reports about the company. HC Wainwright restated a buy rating on shares of Amarin in a report on Thursday, August 1st. Roth Capital set a $31.00 price target on Amarin and gave the company a buy rating in a report on Friday, September 6th. Zacks Investment Research cut Amarin from a buy rating to a hold rating in a report on Wednesday, July 24th. Svb Leerink began coverage on Amarin in a report on Wednesday, August 14th. They set an outperform rating and a $26.00 price target for the company. Finally, Stifel Nicolaus restated a buy rating and set a $26.00 price target on shares of Amarin in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Amarin currently has a consensus rating of Buy and a consensus price target of $29.50.

NASDAQ AMRN traded up $0.08 during trading on Tuesday, hitting $16.75. 30,117 shares of the stock traded hands, compared to its average volume of 6,576,359. The company has a market capitalization of $5.83 billion, a P/E ratio of -42.87 and a beta of 1.27. The firm has a 50-day simple moving average of $16.08 and a 200-day simple moving average of $18.42. The company has a quick ratio of 1.76, a current ratio of 2.01 and a debt-to-equity ratio of 0.18. Amarin has a 12-month low of $2.65 and a 12-month high of $23.91.

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, beating the consensus estimate of ($0.02) by $0.01. The business had revenue of $100.40 million during the quarter, compared to analysts’ expectations of $99.54 million. Amarin had a negative return on equity of 111.75% and a negative net margin of 27.51%. The firm’s revenue for the quarter was up 90.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.10) EPS. As a group, research analysts predict that Amarin will post -0.2 EPS for the current fiscal year.

In other news, Director Lars Ekman sold 91,016 shares of Amarin stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $15.01, for a total value of $1,366,150.16. Following the completion of the transaction, the director now owns 13,500 shares in the company, valued at approximately $202,635. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David M. Stack sold 51,991 shares of Amarin stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $22.28, for a total value of $1,158,359.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 659,202 shares of company stock valued at $13,058,754. Company insiders own 2.75% of the company’s stock.

Several institutional investors have recently made changes to their positions in AMRN. BNP Paribas Arbitrage SA bought a new stake in shares of Amarin during the 1st quarter worth approximately $196,000. Janney Montgomery Scott LLC raised its position in shares of Amarin by 41.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 30,200 shares of the biopharmaceutical company’s stock worth $627,000 after acquiring an additional 8,900 shares in the last quarter. Comerica Bank raised its position in shares of Amarin by 8.0% in the 1st quarter. Comerica Bank now owns 18,481 shares of the biopharmaceutical company’s stock worth $360,000 after acquiring an additional 1,376 shares in the last quarter. Cetera Advisors LLC raised its position in shares of Amarin by 7.5% in the 1st quarter. Cetera Advisors LLC now owns 76,133 shares of the biopharmaceutical company’s stock worth $1,556,000 after acquiring an additional 5,285 shares in the last quarter. Finally, Seelaus Asset Management LLC bought a new position in shares of Amarin in the 1st quarter worth $208,000. Hedge funds and other institutional investors own 47.94% of the company’s stock.

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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