Amarin (NASDAQ:AMRN) Upgraded at Citigroup

Citigroup upgraded shares of Amarin (NASDAQ:AMRN) from a neutral rating to a buy rating in a report released on Tuesday morning, Benzinga reports. Citigroup currently has $24.00 target price on the biopharmaceutical company’s stock, down from their prior target price of $27.00.

Several other brokerages have also recently issued reports on AMRN. TheStreet upgraded Amarin from a d rating to a c- rating in a research note on Friday, November 15th. HC Wainwright restated a buy rating and issued a $51.00 price objective on shares of Amarin in a research note on Thursday, January 9th. Cantor Fitzgerald restated a buy rating and issued a $35.00 price objective on shares of Amarin in a research note on Thursday, January 2nd. Stifel Nicolaus restated a hold rating on shares of Amarin in a research note on Tuesday, January 7th. Finally, BidaskClub lowered Amarin from a sell rating to a strong sell rating in a report on Friday, February 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. The company has an average rating of Hold and an average target price of $27.38.

Shares of NASDAQ:AMRN opened at $18.19 on Tuesday. Amarin has a 52-week low of $13.76 and a 52-week high of $26.12. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.45 and a current ratio of 3.69. The business has a 50-day moving average price of $19.36 and a 200-day moving average price of $18.22.

A number of institutional investors have recently bought and sold shares of the stock. Joseph P. Lucia & Associates LLC grew its holdings in Amarin by 25.5% during the fourth quarter. Joseph P. Lucia & Associates LLC now owns 4,080 shares of the biopharmaceutical company’s stock worth $87,000 after acquiring an additional 830 shares during the period. Amundi Pioneer Asset Management Inc. grew its holdings in Amarin by 13.7% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 7,394 shares of the biopharmaceutical company’s stock worth $158,000 after acquiring an additional 893 shares during the period. Kistler Tiffany Companies LLC grew its holdings in Amarin by 37.0% during the fourth quarter. Kistler Tiffany Companies LLC now owns 3,700 shares of the biopharmaceutical company’s stock worth $79,000 after acquiring an additional 1,000 shares during the period. First Republic Investment Management Inc. grew its holdings in Amarin by 10.0% during the fourth quarter. First Republic Investment Management Inc. now owns 11,044 shares of the biopharmaceutical company’s stock worth $237,000 after acquiring an additional 1,000 shares during the period. Finally, Wealthcare Advisory Partners LLC grew its holdings in Amarin by 210.8% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 1,585 shares of the biopharmaceutical company’s stock worth $34,000 after acquiring an additional 1,075 shares during the period. 53.40% of the stock is currently owned by hedge funds and other institutional investors.

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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