Eversept Partners LP cut its stake in Amarin Co. plc (NASDAQ:AMRN – Get Rating) by 15.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,980,145 shares of the biopharmaceutical company's stock after selling 1,593,157 shares during the quarter. Amarin comprises approximately 2.4% of Eversept Partners LP's investment portfolio, making the stock its 13th biggest position. Eversept Partners LP owned about 2.26% of Amarin worth $29,545,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of AMRN. UMB Bank N A MO purchased a new position in shares of Amarin in the 4th quarter valued at about $28,000. Winthrop Advisory Group LLC purchased a new position in shares of Amarin in the 1st quarter valued at about $34,000. Sciencast Management LP purchased a new position in shares of Amarin in the 1st quarter valued at about $51,000. Running Point Capital Advisors LLC purchased a new position in shares of Amarin in the 1st quarter valued at about $53,000. Finally, C2C Wealth Management LLC purchased a new position in shares of Amarin in the 4th quarter valued at about $75,000. 34.15% of the stock is owned by institutional investors and hedge funds.
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Amarin Price Performance
Shares of NASDAQ:AMRN traded up $0.02 during trading on Friday, reaching $1.37. The company had a trading volume of 4,726,677 shares, compared to its average volume of 3,642,711. Amarin Co. plc has a fifty-two week low of $1.09 and a fifty-two week high of $5.52. The firm has a market capitalization of $552.40 million, a price-to-earnings ratio of -5.48 and a beta of 1.87. The stock's fifty day moving average price is $1.39 and its 200 day moving average price is $2.08.
Amarin (NASDAQ:AMRN – Get Rating) last posted its quarterly earnings results on Wednesday, August 3rd. The biopharmaceutical company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.05). Amarin had a negative net
margin of 21.05% and a negative return on equity of 13.63%. The business had revenue of $94.44 million during the quarter, compared to analysts' expectations of $88.21 million. During the same quarter last year, the firm earned $0.02 earnings per share. The firm's quarterly revenue was down 38.9% compared to the same quarter last year. On average, equities analysts anticipate that Amarin Co. plc will post -0.36 EPS for the current fiscal year.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on AMRN shares. The Goldman Sachs Group decreased their price objective on Amarin from $1.75 to $1.50 and set a "sell" rating for the company in a research note on Tuesday, May 24th. StockNews.com raised Amarin from a "sell" rating to a "hold" rating in a research report on Wednesday, July 27th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $2.50.
Insider Activity at Amarin
In other Amarin news, Director Olsen Per Wold purchased 55,000 shares of the firm's stock in a transaction that occurred on Monday, June 13th. The shares were purchased at an average cost of $1.69 per share, for a total transaction of $92,950.00. Following the completion of the purchase, the director now directly owns 149,000 shares in the company, valued at $251,810. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.90% of the company's stock.
About Amarin
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Amarin Corporation plc, a pharmaceutical company, engages in the development and commercialization of therapeutics for the treatment of cardiovascular diseases in the United States, Germany, Canada, Lebanon, and the United Arab Emirates. Its lead product is VASCEPA, a prescription-only omega-3 fatty acid product, used as an adjunct to diet for reducing triglyceride levels in adult patients with severe hypertriglyceridemia.
Further Reading
- Get a free copy of the StockNews.com research report on Amarin (AMRN)
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