Amarin (NASDAQ:AMRN) Shares Gap Up to $17.62

Amarin Co. plc (NASDAQ:AMRN) gapped up before the market opened on Tuesday . The stock had previously closed at $17.11, but opened at $17.62. Amarin shares last traded at $18.19, with a volume of 6,287,447 shares trading hands.

A number of research analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Amarin from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. began coverage on shares of Amarin in a research report on Monday, January 6th. They set a “neutral” rating and a $22.00 target price for the company. Leerink Swann reissued a “buy” rating and set a $29.00 target price on shares of Amarin in a research report on Friday, December 13th. Cantor Fitzgerald reissued a “buy” rating and set a $35.00 target price on shares of Amarin in a research report on Thursday, January 2nd. Finally, Aegis began coverage on shares of Amarin in a research report on Thursday, October 31st. They set a “buy” rating and a $23.00 target price for the company. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $27.38.

The stock’s 50-day moving average is $19.36 and its 200-day moving average is $18.22. The stock has a market cap of $6.29 billion, a price-to-earnings ratio of -90.95 and a beta of 1.08. The company has a current ratio of 3.69, a quick ratio of 3.45 and a debt-to-equity ratio of 0.02.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wealthcare Advisory Partners LLC increased its position in Amarin by 210.8% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 1,585 shares of the biopharmaceutical company’s stock worth $34,000 after purchasing an additional 1,075 shares in the last quarter. Vigilant Capital Management LLC purchased a new position in Amarin in the 4th quarter worth approximately $43,000. NWK Group Inc. purchased a new position in Amarin in the 4th quarter worth approximately $47,000. Lindbrook Capital LLC boosted its holdings in Amarin by 118.0% in the 3rd quarter. Lindbrook Capital LLC now owns 4,360 shares of the biopharmaceutical company’s stock worth $66,000 after acquiring an additional 2,360 shares during the period. Finally, Kistler Tiffany Companies LLC boosted its holdings in Amarin by 37.0% in the 4th quarter. Kistler Tiffany Companies LLC now owns 3,700 shares of the biopharmaceutical company’s stock worth $79,000 after acquiring an additional 1,000 shares during the period. 53.40% of the stock is owned by hedge funds and other institutional investors.

About Amarin (NASDAQ:AMRN)

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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