Amarin Co. plc (NASDAQ:AMRN) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Amarin Co. plc (NASDAQ:AMRNGet Rating) have been given a consensus rating of “Buy” by the six research firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $7.25.

Several research firms have issued reports on AMRN. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Amarin in a research note on Wednesday, March 2nd. StockNews.com initiated coverage on shares of Amarin in a report on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research upgraded shares of Amarin from a “hold” rating to a “strong-buy” rating and set a $4.00 price objective on the stock in a report on Wednesday, January 12th. Finally, SVB Leerink cut their price objective on shares of Amarin from $11.00 to $10.00 and set an “outperform” rating on the stock in a report on Wednesday, February 16th.

Shares of Amarin stock traded down $0.16 during mid-day trading on Friday, hitting $2.82. 120,787 shares of the stock were exchanged, compared to its average volume of 3,270,303. Amarin has a twelve month low of $2.76 and a twelve month high of $5.97. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 98.70 and a beta of 2.04. The company has a 50-day simple moving average of $3.20 and a 200 day simple moving average of $3.61.

Amarin (NASDAQ:AMRNGet Rating) last released its quarterly earnings results on Tuesday, March 1st. The biopharmaceutical company reported $0.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.05. Amarin had a net margin of 1.33% and a return on equity of 3.31%. The company had revenue of $143.70 million for the quarter, compared to analysts’ expectations of $142.17 million. During the same period last year, the company earned $0.01 EPS. The firm’s revenue for the quarter was down 13.4% compared to the same quarter last year. As a group, equities research analysts expect that Amarin will post -0.02 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of AMRN. Sarissa Capital Management LP raised its holdings in Amarin by 126.5% in the fourth quarter. Sarissa Capital Management LP now owns 19,250,000 shares of the biopharmaceutical company’s stock valued at $64,873,000 after buying an additional 10,750,000 shares during the period. BVF Inc. IL raised its holdings in Amarin by 564.8% in the third quarter. BVF Inc. IL now owns 11,407,182 shares of the biopharmaceutical company’s stock valued at $58,177,000 after buying an additional 9,691,201 shares during the period. Millennium Management LLC raised its stake in shares of Amarin by 151.6% during the fourth quarter. Millennium Management LLC now owns 3,369,512 shares of the biopharmaceutical company’s stock valued at $11,355,000 after purchasing an additional 2,030,046 shares during the period. Regis Management CO LLC purchased a new stake in shares of Amarin during the fourth quarter valued at approximately $1,505,000. Finally, Verition Fund Management LLC purchased a new stake in shares of Amarin during the third quarter valued at approximately $1,531,000. Hedge funds and other institutional investors own 34.17% of the company’s stock.

Amarin Company Profile (Get Rating)

Amarin Corporation plc, a pharmaceutical company, engages in the development and commercialization of therapeutics for the treatment of cardiovascular diseases in the United States, Germany, Canada, Lebanon, and the United Arab Emirates. Its lead product is VASCEPA, a prescription-only omega-3 fatty acid product, used as an adjunct to diet for reducing triglyceride levels in adult patients with severe hypertriglyceridemia.

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