Amarin Co. plc (NASDAQ:AMRN) dropped 0% on Monday . The stock traded as low as $3.99 and last traded at $4.01. Approximately 3,253,551 shares traded hands during mid-day trading, an increase of 42% from the average daily volume of 2,283,366 shares. The stock had previously closed at $4.01.
AMRN has been the subject of several research analyst reports. Cantor Fitzgerald set a $10.00 price objective on Amarin and gave the company a “buy” rating in a report on Tuesday, December 19th. Zacks Investment Research downgraded Amarin from a “buy” rating to a “hold” rating in a report on Friday, November 3rd. Jefferies Group reissued a “buy” rating on shares of Amarin in a report on Wednesday, October 11th. BidaskClub raised Amarin from a “sell” rating to a “hold” rating in a report on Thursday, December 21st. Finally, HC Wainwright reissued a “buy” rating and issued a $10.00 price objective on shares of Amarin in a report on Thursday, November 2nd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Amarin presently has a consensus rating of “Buy” and an average price target of $7.75.
The company has a debt-to-equity ratio of -1.48, a current ratio of 1.63 and a quick ratio of 1.32. The stock has a market cap of $1,090.00, a price-to-earnings ratio of -14.85 and a beta of 0.62.
In other Amarin news, insider John F. Thero acquired 10,000 shares of the business’s stock in a transaction on Thursday, November 30th. The stock was purchased at an average price of $3.24 per share, for a total transaction of $32,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Joseph T. Kennedy sold 51,106 shares of the stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $4.10, for a total value of $209,534.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 381,863 shares of company stock valued at $1,646,979. Corporate insiders own 3.72% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in AMRN. JPMorgan Chase & Co. raised its position in Amarin by 681.5% in the second quarter. JPMorgan Chase & Co. now owns 278,134 shares of the biopharmaceutical company’s stock worth $1,121,000 after acquiring an additional 242,544 shares in the last quarter. Wells Fargo & Company MN raised its position in Amarin by 15.2% in the second quarter. Wells Fargo & Company MN now owns 37,801 shares of the biopharmaceutical company’s stock worth $152,000 after acquiring an additional 5,000 shares in the last quarter. OxFORD Asset Management LLP raised its position in Amarin by 114.2% in the second quarter. OxFORD Asset Management LLP now owns 135,773 shares of the biopharmaceutical company’s stock worth $547,000 after acquiring an additional 72,390 shares in the last quarter. Intrinsic Edge Capital Management LLC purchased a new position in Amarin in the second quarter worth $725,000. Finally, State Street Corp raised its position in Amarin by 1.3% in the second 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 in the last quarter. Hedge funds and other institutional investors own 40.14% of the company’s stock.
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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