Amarin’s (AMRN) “Sell” Rating Reiterated at Oppenheimer

Amarin (NASDAQ:AMRN)‘s stock had its “sell” rating reiterated by equities research analysts at Oppenheimer in a research report issued on Wednesday, The Fly reports. They presently have a $13.00 target price on the biopharmaceutical company’s stock, up from their prior target price of $8.00. Oppenheimer’s price objective would suggest a potential downside of 35.71% from the stock’s previous close. Oppenheimer also issued estimates for Amarin’s Q1 2020 earnings at ($0.07) EPS, FY2021 earnings at $0.04 EPS and FY2022 earnings at $0.56 EPS.

AMRN has been the subject of a number of other reports. Goldman Sachs Group began coverage on Amarin in a report on Tuesday, October 15th. They issued a “neutral” rating and a $17.00 price target for the company. BidaskClub downgraded Amarin from a “hold” rating to a “sell” rating in a report on Friday, January 10th. Citigroup downgraded Amarin from a “buy” rating to a “neutral” rating in a report on Wednesday, November 27th. Zacks Investment Research downgraded Amarin from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Finally, Leerink Swann reissued a “buy” rating and issued a $29.00 price target on shares of Amarin in a report on Friday, December 13th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $27.62.

AMRN traded down $0.54 during midday trading on Wednesday, hitting $20.22. 3,593,145 shares of the company traded hands, compared to its average volume of 7,635,276. The company has a quick ratio of 3.45, a current ratio of 3.69 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $7.44 billion, a PE ratio of -101.09 and a beta of 1.05. The company’s 50-day moving average is $21.19 and its 200 day moving average is $18.42. Amarin has a 52 week low of $13.76 and a 52 week high of $26.12.

Amarin (NASDAQ:AMRN) last posted its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($0.01) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. The business had revenue of $112.40 million for the quarter, compared to analysts’ expectations of $110.04 million. Amarin had a negative net margin of 17.42% and a negative return on equity of 26.67%. The business’s revenue for the quarter was up 104.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.08) EPS. On average, sell-side analysts predict that Amarin will post -0.1 earnings per share for the current fiscal year.

In related news, CEO John F. Thero sold 274,454 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $20.91, for a total transaction of $5,738,833.14. Also, CEO John F. Thero sold 475,546 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $24.02, for a total value of $11,422,614.92. Insiders sold 788,600 shares of company stock valued at $18,088,620 over the last 90 days. Company insiders own 2.75% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Vigilant Capital Management LLC acquired a new stake in Amarin in the fourth quarter worth approximately $43,000. Valeo Financial Advisors LLC boosted its holdings in Amarin by 23,330.0% during the third quarter. Valeo Financial Advisors LLC now owns 2,343 shares of the biopharmaceutical company’s stock valued at $36,000 after acquiring an additional 2,333 shares during the period. Endurance Wealth Management Inc. boosted its holdings in Amarin by 66.7% during the third quarter. Endurance Wealth Management Inc. now owns 2,500 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 1,000 shares during the period. Kistler Tiffany Companies LLC lifted its stake in shares of Amarin by 37.0% in the fourth quarter. Kistler Tiffany Companies LLC now owns 3,700 shares of the biopharmaceutical company’s stock valued at $79,000 after buying an additional 1,000 shares during the period. Finally, Sonora Investment Management LLC bought a new stake in shares of Amarin in the fourth quarter valued at about $82,000. Hedge funds and other institutional investors own 52.77% of the company’s stock.

About Amarin

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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