Amarin (AMRN) Price Target Cut to $20.00 by Analysts at Citigroup

Amarin (NASDAQ:AMRN) had its price objective reduced by Citigroup to $20.00 in a research note issued to investors on Tuesday, The Fly reports.

AMRN has been the topic of a number of other research reports. Cantor Fitzgerald reaffirmed a buy rating and issued a $35.00 target price on shares of Amarin in a research report on Friday, December 14th. BidaskClub raised Amarin from a hold rating to a buy rating in a research report on Friday, October 26th. ValuEngine raised Amarin from a buy rating to a strong-buy rating in a research report on Monday, September 24th. SunTrust Banks reissued a buy rating on shares of Amarin in a research report on Monday, January 7th. Finally, HC Wainwright reissued a buy rating and set a $51.00 price target (up previously from $31.00) on shares of Amarin in a research report on Monday, November 12th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $33.20.

Shares of NASDAQ:AMRN traded down $0.35 during midday trading on Tuesday, reaching $18.00. The company had a trading volume of 18,156,725 shares, compared to its average volume of 13,059,728. The company has a market cap of $4.85 billion, a P/E ratio of -72.00 and a beta of 1.11. Amarin has a 1-year low of $2.35 and a 1-year high of $23.33.

Amarin (NASDAQ:AMRN) last released its earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. The company had revenue of $55.00 million during the quarter, compared to analyst estimates of $60.63 million. Amarin’s revenue was up 16.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.04) EPS. Research analysts anticipate that Amarin will post -0.38 EPS for the current year.

In other Amarin news, insider John F. Thero sold 607,611 shares of the business’s stock in a transaction that occurred on Monday, November 12th. The stock was sold at an average price of $19.07, for a total transaction of $11,587,141.77. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Steven B. Ketchum sold 17,042 shares of the business’s stock in a transaction that occurred on Wednesday, October 31st. The stock was sold at an average price of $20.74, for a total value of $353,451.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,602,381 shares of company stock worth $26,155,699. Company insiders own 4.08% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Signature Estate & Investment Advisors LLC acquired a new position in shares of Amarin in the third quarter valued at approximately $137,000. BKS Advisors LLC acquired a new position in shares of Amarin in the third quarter valued at approximately $162,000. First Republic Investment Management Inc. acquired a new position in shares of Amarin in the third quarter valued at approximately $163,000. Laurel Wealth Advisors Inc. acquired a new position in shares of Amarin in the third quarter valued at approximately $170,000. Finally, Credit Suisse AG acquired a new position in shares of Amarin in the third quarter valued at approximately $198,000. 42.94% of the stock is currently owned by institutional investors.

Amarin Company Profile

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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