Amarin Corporation PLC (AMRN) Upgraded to Hold by ValuEngine

ValuEngine upgraded shares of Amarin Corporation PLC (NASDAQ:AMRN) from a sell rating to a hold rating in a research report released on Saturday morning.

A number of other research analysts have also weighed in on AMRN. Zacks Investment Research raised 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. BidaskClub lowered shares of Amarin Corporation PLC from a strong-buy rating to a buy rating in a research note on Friday, July 28th. Jefferies Group LLC reaffirmed a buy rating and set a $7.00 price objective on shares of Amarin Corporation PLC in a research note on Thursday, August 3rd. HC Wainwright reaffirmed a buy rating and set a $10.00 price objective on shares of Amarin Corporation PLC in a research note on Thursday, August 3rd. Finally, Cantor Fitzgerald set a $10.00 target price on shares of Amarin Corporation PLC and gave the company a buy rating in a research note on Monday, August 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $7.75.

Amarin Corporation PLC (AMRN) traded up $0.04 during trading on Friday, hitting $3.60. 1,360,544 shares of the stock traded hands, compared to its average volume of 1,217,773. The company has a current ratio of 1.63, a quick ratio of 1.46 and a debt-to-equity ratio of -1.48. Amarin Corporation PLC has a 52-week low of $2.76 and a 52-week high of $4.47.

Amarin Corporation PLC (NASDAQ:AMRN) last released its quarterly earnings data on Wednesday, November 1st. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.01. The company had revenue of $47.10 million for the quarter, compared to the consensus estimate of $45.85 million. During the same quarter in the previous year, the business earned ($0.08) EPS. The company’s quarterly revenue was up 45.4% on a year-over-year basis. analysts anticipate that Amarin Corporation PLC will post -0.21 earnings per share for the current fiscal year.

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In related news, insider Steven B. Ketchum sold 63,479 shares of Amarin Corporation PLC stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $3.48, for a total value of $220,906.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.72% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Westside Investment Management Inc. raised its holdings in Amarin Corporation PLC by 1.1% in the second quarter. Westside Investment Management Inc. now owns 27,350 shares of the biopharmaceutical company’s stock worth $114,000 after purchasing an additional 300 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Amarin Corporation PLC by 4.8% in the first quarter. Wells Fargo & Company MN now owns 32,801 shares of the biopharmaceutical company’s stock worth $105,000 after purchasing an additional 1,500 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Amarin Corporation PLC by 27.1% in the first quarter. JPMorgan Chase & Co. now owns 35,590 shares of the biopharmaceutical company’s stock worth $114,000 after purchasing an additional 7,580 shares in the last quarter. Perkins Capital Management Inc. raised its holdings in Amarin Corporation PLC by 20.3% in the second quarter. Perkins Capital Management Inc. now owns 41,500 shares of the biopharmaceutical company’s stock worth $167,000 after purchasing an additional 7,000 shares in the last quarter. Finally, Stevens Capital Management LP bought a new position in Amarin Corporation PLC in the third quarter worth about $229,000. Hedge funds and other institutional investors own 37.76% of the company’s stock.

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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