Amarin Corporation PLC’s (AMRN) “Buy” Rating Reaffirmed at HC Wainwright

Amarin Corporation PLC (NASDAQ:AMRN)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a report released on Thursday. They presently have a $10.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s target price points to a potential upside of 194.12% from the stock’s current price.

Several other research firms have also recently weighed in on AMRN. BidaskClub cut shares of Amarin Corporation PLC from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 24th. Cantor Fitzgerald reissued a “buy” rating and issued a $10.00 price target on shares of Amarin Corporation PLC in a research note on Tuesday, August 29th. ValuEngine raised shares of Amarin Corporation PLC from a “sell” rating to a “hold” rating in a research note on Thursday, August 31st. Zacks Investment Research raised shares of Amarin Corporation PLC from a “hold” rating to a “buy” rating and set a $4.75 price target for the company in a research note on Tuesday, July 11th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $7.00 price target on shares of Amarin Corporation PLC in a research note on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $7.75.

Amarin Corporation PLC (NASDAQ:AMRN) last posted its quarterly earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.01. The firm had revenue of $47.10 million during the quarter, compared to analysts’ expectations of $45.85 million. During the same period last year, the company earned ($0.08) EPS. The business’s quarterly revenue was up 45.4% on a year-over-year basis.

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In other news, insider Steven B. Ketchum sold 63,479 shares of the company’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $3.48, for a total value of $220,906.92. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 3.72% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Stevens Capital Management LP acquired a new position in shares of Amarin Corporation PLC in the 3rd quarter worth approximately $229,000. Dynamic Technology Lab Private Ltd lifted its holdings in shares of Amarin Corporation PLC by 94.2% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 87,104 shares of the biopharmaceutical company’s stock worth $351,000 after acquiring an additional 42,246 shares during the last quarter. Westside Investment Management Inc. lifted its holdings in shares of Amarin Corporation PLC by 1.1% in the 2nd quarter. Westside Investment Management Inc. now owns 27,350 shares of the biopharmaceutical company’s stock worth $114,000 after acquiring an additional 300 shares during the last quarter. State Street Corp lifted its holdings in shares of Amarin Corporation PLC by 1.3% in the 2nd quarter. State Street Corp now owns 201,995 shares of the biopharmaceutical company’s stock worth $814,000 after acquiring an additional 2,640 shares during the last quarter. Finally, Intrinsic Edge Capital Management LLC acquired a new position in shares of Amarin Corporation PLC in the 2nd quarter worth approximately $725,000. Hedge funds and other institutional investors own 37.76% of the company’s stock.

About Amarin Corporation 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 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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