Jefferies Group LLC Reiterates Buy Rating for Amarin Corporation PLC (AMRN)

Amarin Corporation PLC (NASDAQ:AMRN)‘s stock had its “buy” rating reiterated by analysts at Jefferies Group LLC in a report released on Wednesday. Jefferies Group also issued estimates for Amarin Corporation PLC’s Q3 2017 earnings at ($0.05) EPS and FY2017 earnings at ($0.22) EPS.

AMRN has been the subject of several other research reports. HC Wainwright reiterated a “buy” rating and issued a $10.00 price objective on shares of Amarin Corporation PLC in a research note on Wednesday, June 28th. BidaskClub upgraded shares of Amarin Corporation PLC from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. ValuEngine cut shares of Amarin Corporation PLC from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Zacks Investment Research cut shares of Amarin Corporation PLC from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $10.00 price objective on shares of Amarin Corporation PLC in a research note on Tuesday, September 26th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $7.20.

Amarin Corporation PLC (NASDAQ:AMRN) last announced its quarterly earnings data on Wednesday, August 2nd. The biopharmaceutical company reported ($0.05) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. The company had revenue of $44.95 million during the quarter, compared to analyst estimates of $40.35 million. During the same quarter last year, the business earned ($0.07) EPS. The firm’s revenue for the quarter was up 37.0% on a year-over-year basis.

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In other Amarin Corporation PLC news, insider Steven B. Ketchum sold 63,479 shares of Amarin Corporation PLC stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $3.48, for a total transaction of $220,906.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.72% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Ameriprise Financial Inc. raised its position in Amarin Corporation PLC by 0.9% during the first quarter. Ameriprise Financial Inc. now owns 395,769 shares of the biopharmaceutical company’s stock worth $1,266,000 after acquiring an additional 3,413 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Amarin Corporation PLC during the first quarter worth about $960,000. Renaissance Technologies LLC raised its position in Amarin Corporation PLC by 348.2% during the first quarter. Renaissance Technologies LLC now owns 1,730,200 shares of the biopharmaceutical company’s stock worth $5,537,000 after acquiring an additional 1,344,200 shares during the last quarter. Perkins Capital Management Inc. raised its position in Amarin Corporation PLC by 20.3% during the second quarter. Perkins Capital Management Inc. now owns 41,500 shares of the biopharmaceutical company’s stock worth $167,000 after acquiring an additional 7,000 shares during the last quarter. Finally, California Public Employees Retirement System raised its position in Amarin Corporation PLC by 13.3% during the first quarter. California Public Employees Retirement System now owns 533,300 shares of the biopharmaceutical company’s stock worth $1,707,000 after acquiring an additional 62,800 shares during the last quarter. Institutional investors own 37.76% 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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