Amarin (NASDAQ:AMRN)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a note issued to investors on Thursday, AnalystRatings.com reports.
The analysts wrote, “Our PT of $51 is based on equally weighted average of: (a) $47.99/share, as a 25x multiple of taxed and diluted FY29 GAAP EPS of $5.45 discounted back to and (b) an NPV of $53.14/share (discount rate 10%, growth rate 2%). Risks to our investment thesis and target price include: (1) Vascepa commercial ramp-up and/or peak sales not meeting our projections; and (2) further competitive disruption of the omega-3 market by branded drugs or generics and/ or OTC supplements beyond our model.””
Other research analysts also recently issued research reports about the company. Stifel Nicolaus reissued a “buy” rating and set a $26.00 target price on shares of Amarin in a research note on Wednesday. Zacks Investment Research downgraded Amarin from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Cantor Fitzgerald set a $35.00 price objective on Amarin and gave the company a “buy” rating in a research note on Thursday, July 11th. BidaskClub downgraded Amarin from a “hold” rating to a “sell” rating in a research note on Wednesday, July 24th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Amarin in a research note on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Amarin currently has a consensus rating of “Buy” and an average price target of $30.38.
Amarin (NASDAQ:AMRN) last issued its earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($0.01) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. The firm had revenue of $100.40 million during the quarter, compared to the consensus estimate of $99.54 million. Amarin had a negative return on equity of 144.81% and a negative net margin of 27.51%. The business’s quarterly revenue was up 90.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.10) earnings per share. On average, equities analysts predict that Amarin will post -0.24 earnings per share for the current year.
In other Amarin news, insider Aaron Berg sold 113,195 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $18.59, for a total transaction of $2,104,295.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David M. Stack sold 13,174 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $18.00, for a total transaction of $237,132.00. The disclosure for this sale can be found here. Insiders sold 642,388 shares of company stock valued at $13,041,271 in the last ninety days. 2.75% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Wealthcare Advisory Partners LLC acquired a new stake in Amarin during the 1st quarter valued at approximately $42,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in Amarin during the 1st quarter valued at approximately $44,000. Kistler Tiffany Companies LLC increased its position in Amarin by 166.7% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,400 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 1,500 shares during the period. Winslow Evans & Crocker Inc. increased its position in Amarin by 150.0% during the 1st quarter. Winslow Evans & Crocker Inc. now owns 2,500 shares of the biopharmaceutical company’s stock valued at $52,000 after purchasing an additional 1,500 shares during the period. Finally, Global Retirement Partners LLC boosted its holdings in shares of Amarin by 30.7% during the 1st quarter. Global Retirement Partners LLC now owns 3,414 shares of the biopharmaceutical company’s stock worth $71,000 after buying an additional 802 shares in the last quarter. 47.65% of the stock is owned by institutional investors and hedge funds.
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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