Amarin Corporation PLC (NASDAQ:AMRN) Lowered to Sell at BidaskClub

BidaskClub downgraded shares of Amarin Corporation PLC (NASDAQ:AMRN) from a hold rating to a sell rating in a report issued on Friday morning.

A number of other brokerages also recently weighed in on AMRN. Jefferies Group LLC reissued a buy rating and issued a $5.00 price target on shares of Amarin Corporation PLC in a report on Monday, June 12th. Cantor Fitzgerald restated an overweight rating and set a $10.00 price objective on shares of Amarin Corporation PLC in a report on Monday, June 26th. HC Wainwright restated a buy rating and set a $10.00 price objective on shares of Amarin Corporation PLC in a report on Wednesday. Finally, Zacks Investment Research upgraded Amarin Corporation PLC from a hold rating to a buy rating and set a $4.75 price objective on the stock in a report on Tuesday, July 11th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $7.35.

Shares of Amarin Corporation PLC (NASDAQ:AMRN) traded up 1.87% during trading on Friday, hitting $3.26. 2,881,730 shares of the stock were exchanged. The stock has a 50-day moving average of $3.87 and a 200 day moving average of $3.32. Amarin Corporation PLC has a 12-month low of $2.56 and a 12-month high of $4.47. The stock’s market cap is $882.78 million.

Amarin Corporation PLC (NASDAQ:AMRN) last issued its quarterly earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.01. The business had revenue of $44.95 million during the quarter, compared to analyst estimates of $40.35 million. During the same period in the previous year, the company posted ($0.07) earnings per share. Amarin Corporation PLC’s revenue was up 37.0% compared to the same quarter last year. Equities analysts predict that Amarin Corporation PLC will post ($0.22) earnings per share for the current fiscal year.

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In other Amarin Corporation PLC news, General Counsel Joseph T. Kennedy sold 307,911 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $4.00, for a total transaction of $1,231,644.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 3.72% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of AMRN. Private Advisor Group LLC increased its stake in Amarin Corporation PLC by 2.1% in the first quarter. Private Advisor Group LLC now owns 50,170 shares of the biopharmaceutical company’s stock valued at $157,000 after buying an additional 1,032 shares during the last quarter. Wells Fargo & Company MN increased its stake in Amarin Corporation PLC by 4.8% in the first quarter. Wells Fargo & Company MN now owns 32,801 shares of the biopharmaceutical company’s stock valued at $105,000 after buying an additional 1,500 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Amarin Corporation PLC by 1.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 143,650 shares of the biopharmaceutical company’s stock valued at $460,000 after buying an additional 2,050 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Amarin Corporation PLC by 0.9% in the first quarter. Ameriprise Financial Inc. now owns 395,769 shares of the biopharmaceutical company’s stock valued at $1,266,000 after buying an additional 3,413 shares during the last quarter. Finally, Perkins Capital Management Inc. increased its stake in Amarin Corporation PLC by 20.3% in the second quarter. Perkins Capital Management Inc. now owns 41,500 shares of the biopharmaceutical company’s stock valued at $167,000 after buying an additional 7,000 shares during the last quarter. Hedge funds and other institutional investors own 37.57% of the company’s stock.

Amarin Corporation PLC Company Profile

Amarin Corporation plc is a biopharmaceutical company with operations in lipid science focused on the commercialization and development of therapeutics for cardiovascular health. The Company operates through the development and commercialization of Vascepa segment. The Company’s lead product, Vascepa (icosapent ethyl) capsule, is approved by the United States Food and Drug Administration (FDA) for use as an adjunct to diet to reduce triglyceride levels in adult patients with severe hypertriglyceridemia.

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