Amarin Corporation PLC (NASDAQ:AMRN) announced its earnings results on Wednesday. The biopharmaceutical company reported ($0.04) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.01, Briefing.com reports. The firm had revenue of $47.10 million during the quarter, compared to analysts’ expectations of $45.85 million. The business’s revenue for the quarter was up 45.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.08) EPS.
In related news, insider Steven B. Ketchum sold 63,479 shares of the business’s stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $3.48, for a total transaction of $220,906.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.72% of the company’s stock.
An institutional investor recently raised its position in Amarin Corporation PLC stock. State Street Corp lifted its stake in shares of Amarin Corporation PLC (NASDAQ:AMRN) by 1.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 201,995 shares of the biopharmaceutical company’s stock after acquiring an additional 2,640 shares during the quarter. State Street Corp owned approximately 0.07% of Amarin Corporation PLC worth $814,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 37.76% of the company’s stock.
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AMRN has been the subject of several analyst reports. BidaskClub downgraded shares of Amarin Corporation PLC from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. Cantor Fitzgerald reiterated a “buy” rating and issued a $10.00 target price on shares of Amarin Corporation PLC in a report on Tuesday, August 29th. HC Wainwright reiterated a “buy” rating and issued a $10.00 target price on shares of Amarin Corporation PLC in a report on Wednesday, August 9th. ValuEngine upgraded shares of Amarin Corporation PLC from a “sell” rating to a “hold” rating in a report on Thursday, August 31st. Finally, Zacks Investment Research upgraded shares of Amarin Corporation PLC from a “hold” rating to a “buy” rating and set a $4.75 target price for the company in a report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. Amarin Corporation PLC has a consensus rating of “Buy” and an average price target of $7.75.
Amarin Corporation PLC Company Profile
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 operates through the development and commercialization of Vascepa segment. 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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