Amarin (NASDAQ:AMRN) Given a $35.00 Price Target at Cantor Fitzgerald

Cantor Fitzgerald set a $35.00 price objective on Amarin (NASDAQ:AMRN) in a research note published on Thursday, TipRanks reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

Several other equities analysts have also recently issued reports on AMRN. Zacks Investment Research upgraded shares of HB Fuller from a sell rating to a hold rating in a research report on Wednesday, July 3rd. Roth Capital initiated coverage on shares of Amarin in a research report on Monday, June 17th. They issued a buy rating and a $31.00 price target for the company. Jefferies Financial Group restated a buy rating and issued a $30.00 price target on shares of Amarin in a research report on Tuesday. BidaskClub cut shares of RigNet from a sell rating to a strong sell rating in a research report on Thursday, March 21st. Finally, HC Wainwright set a $51.00 price target on shares of Amarin and gave the company a buy rating in a research report on Wednesday, July 3rd. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $30.75.

NASDAQ AMRN traded down $0.61 on Thursday, hitting $21.89. The company’s stock had a trading volume of 4,438,938 shares, compared to its average volume of 9,374,534. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.84 and a current ratio of 2.20. Amarin has a 1-year low of $2.35 and a 1-year high of $23.91. The stock’s 50-day simple moving average is $19.18. The company has a market capitalization of $7.27 billion, a price-to-earnings ratio of -56.13 and a beta of 1.18.

Amarin (NASDAQ:AMRN) last announced its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.04. Amarin had a negative net margin of 45.16% and a negative return on equity of 450.07%. The firm had revenue of $73.30 million during the quarter, compared to analysts’ expectations of $67.30 million. During the same period in the prior year, the company posted ($0.07) EPS. The company’s revenue was up 67.0% on a year-over-year basis. As a group, research analysts expect that Amarin will post -0.22 earnings per share for the current fiscal year.

In other news, Director Joseph S. Zakrzewski sold 100,000 shares of the company’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $23.82, for a total value of $2,382,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Aaron Berg sold 113,195 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $18.59, for a total transaction of $2,104,295.05. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 627,168 shares of company stock worth $12,569,970. Insiders own 2.75% of the company’s stock.

Several large investors have recently bought and sold shares of the company. venBio Select Advisor LLC boosted its stake in Amarin by 37.8% during the fourth quarter. venBio Select Advisor LLC now owns 5,575,000 shares of the biopharmaceutical company’s stock worth $75,876,000 after acquiring an additional 1,530,000 shares in the last quarter. Perceptive Advisors LLC boosted its stake in Amarin by 699.0% during the fourth quarter. Perceptive Advisors LLC now owns 4,875,600 shares of the biopharmaceutical company’s stock worth $64,553,000 after acquiring an additional 4,265,400 shares in the last quarter. Rubric Capital Management LP boosted its stake in Amarin by 67.2% during the first quarter. Rubric Capital Management LP now owns 2,250,000 shares of the biopharmaceutical company’s stock worth $46,710,000 after acquiring an additional 904,624 shares in the last quarter. Federated Investors Inc. PA boosted its stake in Amarin by 56.9% during the first quarter. Federated Investors Inc. PA now owns 1,612,324 shares of the biopharmaceutical company’s stock worth $33,472,000 after acquiring an additional 585,000 shares in the last quarter. Finally, Two Sigma Investments LP bought a new position in Amarin during the fourth quarter worth $16,610,000. 47.62% of the stock is currently owned by institutional investors.

Amarin Company Profile

Amarin Corp. Plc is a biopharmaceutical company, which focuses on the commercialization and development of therapeutics for cardiovascular health. Its product development program leverages its experience in lipid science and the potential therapeutic benefits of polyunsaturated fatty acids. It has developed and markets Vascepa capsules through wholesale.

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Analyst Recommendations for Amarin (NASDAQ:AMRN)

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