Amarin (AMRN) Reaches New 1-Year High and Low at $2.81

Shares of Amarin Co. (NASDAQ:AMRN) hit a new 52-week high and low during mid-day trading on Monday . The stock traded as low as $2.81 and last traded at $2.81, with a volume of 1665096 shares. The stock had previously closed at $2.94.

Several analysts recently issued reports on AMRN shares. Cantor Fitzgerald set a $10.00 price target on Amarin and gave the stock a “buy” rating in a report on Monday, March 12th. BidaskClub raised Amarin from a “hold” rating to a “buy” rating in a report on Friday, December 29th. HC Wainwright reissued a “buy” rating on shares of Amarin in a report on Thursday, March 1st. Finally, Zacks Investment Research raised Amarin from a “sell” rating to a “hold” rating in a report on Tuesday, January 2nd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $7.75.

The company has a debt-to-equity ratio of -1.12, a current ratio of 1.41 and a quick ratio of 1.13. The company has a market cap of $859.41, a price-to-earnings ratio of -11.28 and a beta of 0.72.

Amarin (NASDAQ:AMRN) last announced its earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.03). The business had revenue of $53.87 million during the quarter, compared to analysts’ expectations of $52.73 million. Amarin’s quarterly revenue was up 39.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.10) earnings per share. sell-side analysts predict that Amarin Co. will post -0.33 earnings per share for the current year.

In other Amarin news, insider Steven B. Ketchum sold 135,205 shares of Amarin stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $4.41, for a total transaction of $596,254.05. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Joseph T. Kennedy sold 26,942 shares of Amarin stock in a transaction on Tuesday, April 3rd. The shares were sold at an average price of $2.90, for a total value of $78,131.80. The disclosure for this sale can be found here. Insiders have sold a total of 207,004 shares of company stock worth $841,702 in the last ninety days. 3.72% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in AMRN. State Street Corp raised its stake in Amarin by 1.3% during the 2nd quarter. State Street Corp now owns 201,995 shares of the biopharmaceutical company’s stock valued at $814,000 after acquiring an additional 2,640 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Amarin during the 3rd quarter valued at $226,000. Neuberger Berman Group LLC acquired a new position in shares of Amarin during the 3rd quarter valued at $350,000. Alps Advisors Inc. acquired a new position in shares of Amarin during the 4th quarter valued at $1,203,000. Finally, Raymond James Financial Services Advisors Inc. increased its position in shares of Amarin by 70.9% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 245,510 shares of the biopharmaceutical company’s stock valued at $984,000 after purchasing an additional 101,860 shares during the period. 38.18% of the stock is currently owned by hedge funds and other institutional investors.

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About Amarin

Amarin Corporation plc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for the treatment of cardiovascular diseases in the United States. The company's lead product is Vascepa, a prescription-only omega-3 fatty acid capsule, used as an adjunct to diet for reducing triglyceride levels in adult patients with severe hypertriglyceridemia.

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