Amarin Co. plc (NASDAQ:AMRN – Get Rating) shares traded up 5.8% during trading on Tuesday . The stock traded as high as $1.29 and last traded at $1.28. 161,179 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 3,916,424 shares. The stock had previously closed at $1.21.
Analysts Set New Price Targets
Several analysts have commented on the company. The Goldman Sachs Group lowered their price target on Amarin from $1.75 to $1.50 and set a "sell" rating for the company in a report on Tuesday, May 24th. StockNews.com upgraded Amarin from a "sell" rating to a "hold" rating in a report on Wednesday, July 27th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $2.50.
Get Amarin alerts:Amarin Stock Performance
The stock has a market cap of $520.14 million, a PE ratio of -4.86 and a beta of 1.87. The stock has a fifty day simple moving average of $1.44 and a two-hundred day simple moving average of $2.16.
Amarin (NASDAQ:AMRN – Get Rating) last released 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). The company had revenue of $94.44 million during the quarter, compared to analysts' expectations of $88.21 million. Amarin had a negative return on equity of 13.63% and a negative net margin of 21.05%. The firm's revenue was down 38.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.02 EPS. On average, equities analysts predict that Amarin Co. plc will post -0.36 EPS for the current fiscal year.Insider Activity
In other news, Director Olsen Per Wold acquired 55,000 shares of Amarin 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 of the company's stock, valued at approximately $251,810. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.90% of the company's stock.
Institutional Investors Weigh In On Amarin
A number of hedge funds have recently added to or reduced their stakes in AMRN. Creative Planning lifted its stake in Amarin by 66.4% in the second quarter. Creative Planning now owns 17,285 shares of the biopharmaceutical company's stock valued at $26,000 after buying an additional 6,900 shares during the last quarter. UMB Bank N A MO bought a new stake in Amarin in the fourth quarter valued at $28,000. Quantbot Technologies LP bought a new stake in Amarin in the first quarter valued at $31,000. Masso Torrence Wealth Management Inc. bought a new stake in Amarin in the fourth quarter valued at $34,000. Finally, Winthrop Advisory Group LLC bought a new stake in Amarin in the first quarter valued at $34,000. 34.15% of the stock is currently owned by institutional investors.
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.
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