Amarin (AMRN) Stock Rating Lowered by Zacks Investment Research

Amarin (NASDAQ:AMRN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “Amarin Corporation plc is a global pharmaceutical group which develops innovative pharmaceutical products across a range of therapeutic areas utilizing its proprietary advanced oral and transdermal drug delivery technologies. “

Several other research firms also recently issued reports on AMRN. BidaskClub downgraded Amarin from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 24th. Cantor Fitzgerald restated a “buy” rating and issued a $10.00 price target on shares of Amarin in a research note on Tuesday, August 29th. ValuEngine upgraded Amarin from a “sell” rating to a “hold” rating in a research note on Thursday, August 31st. Jefferies Group restated a “buy” rating on shares of Amarin in a research note on Wednesday, October 11th. Finally, HC Wainwright restated a “buy” rating and issued a $10.00 price target on shares of Amarin in a research note on Thursday, November 2nd. Three research analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $7.75.

Amarin (NASDAQ:AMRN) traded up $0.32 during mid-day trading on Wednesday, hitting $3.91. The company had a trading volume of 4,027,369 shares, compared to its average volume of 1,740,136. The company has a current ratio of 1.63, a quick ratio of 1.32 and a debt-to-equity ratio of -1.48. Amarin has a 1-year low of $2.81 and a 1-year high of $4.47.

Amarin (NASDAQ:AMRN) last posted its earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $47.10 million for the quarter, compared to analyst estimates of $45.85 million. The firm’s revenue was up 45.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.08) earnings per share. equities analysts forecast that Amarin will post -0.22 EPS for the current year.

In related news, insider John F. Thero bought 10,000 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was purchased at an average cost of $3.24 per share, for a total transaction of $32,400.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Steven B. Ketchum sold 63,479 shares of the company’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $3.48, for a total value of $220,906.92. The disclosure for this sale can be found here. Corporate insiders own 3.72% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Westside Investment Management Inc. lifted its position in shares of Amarin by 1.1% during the 2nd quarter. Westside Investment Management Inc. now owns 27,350 shares of the biopharmaceutical company’s stock valued at $114,000 after acquiring an additional 300 shares during the period. State Street Corp lifted its position in shares of 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 during the period. Wells Fargo & Company MN lifted its position in shares of Amarin by 15.2% during the 2nd quarter. Wells Fargo & Company MN now owns 37,801 shares of the biopharmaceutical company’s stock valued at $152,000 after acquiring an additional 5,000 shares during the period. Dynamic Technology Lab Private Ltd lifted its position in shares of Amarin by 94.2% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 87,104 shares of the biopharmaceutical company’s stock valued at $351,000 after acquiring an additional 42,246 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Amarin during the 3rd quarter valued at $226,000. Hedge funds and other institutional investors own 40.12% of the company’s stock.

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About Amarin

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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