Amarin Co. plc (NASDAQ:AMRN)‘s stock had its “buy” rating restated by research analysts at Cantor Fitzgerald in a report released on Thursday. They presently have a $6.00 price target on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target points to a potential upside of 79.64% from the company’s current price.
The analysts wrote, “Different Targets, Risk Remains: PCSK9s are a new class of injectable drug for lowering LDL-C levels for patients when statin therapy is not adequate. Vascepa, comparatively, is an ultra pure form of omega-3, icosapent ethyl acid (EPA) that reduces triglyceride levels. Both are intended to reduce relative CV risk beyond that of statin therapy. We note that, although the recent data for Repatha show significant LDL-C lowering, there was less-pronounced CV risk benefit than may have been expected.””
Several other brokerages have also weighed in on AMRN. Zacks Investment Research raised Amarin Co. plc from a “sell” rating to a “hold” rating in a research report on Tuesday, February 28th. Jefferies Group LLC set a $5.00 target price on Amarin Co. plc and gave the stock a “buy” rating in a research report on Tuesday, February 28th. Finally, HC Wainwright reissued a “buy” rating and set a $10.00 target price on shares of Amarin Co. plc in a research report on Tuesday, January 24th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $5.85.
Amarin Co. plc (NASDAQ:AMRN) traded down 4.19% during midday trading on Thursday, reaching $3.20. The company’s stock had a trading volume of 1,184,322 shares. The stock’s market cap is $870.60 million. Amarin Co. plc has a 12-month low of $1.38 and a 12-month high of $3.65. The stock’s 50 day moving average is $3.26 and its 200 day moving average is $3.13.
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Several large investors have recently modified their holdings of AMRN. Consonance Capital Management LP acquired a new stake in shares of Amarin Co. plc during the third quarter valued at $78,641,000. Baker BROS. Advisors LP purchased a new position in Amarin Co. plc during the third quarter valued at approximately $65,811,000. Acadian Asset Management LLC raised its position in Amarin Co. plc by 6,326.7% in the third quarter. Acadian Asset Management LLC now owns 6,264,045 shares of the biopharmaceutical company’s stock valued at $19,982,000 after buying an additional 6,166,576 shares during the period. Rock Springs Capital Management LP purchased a new position in Amarin Co. plc during the third quarter valued at approximately $15,809,000. Finally, J. Goldman & Co LP raised its position in Amarin Co. plc by 31.9% in the fourth quarter. J. Goldman & Co LP now owns 1,077,200 shares of the biopharmaceutical company’s stock valued at $3,318,000 after buying an additional 260,500 shares during the period. 39.07% of the stock is currently owned by institutional investors and hedge funds.
About Amarin Co. plc
Amarin Corporation plc is a biopharmaceutical company with operations in lipid science focused on the commercialization and development of therapeutics for cardiovascular health. The Company’s lead product, Vascepa (icosapent ethyl) capsule, is approved by the United States Food and Drug Administration (FDA) for use as an adjunct to diet to reduce triglyceride levels in adult patients with severe hypertriglyceridemia.
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