Amarin (NASDAQ:AMRN) Raised to Buy at BidaskClub

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BidaskClub upgraded shares of Amarin (NASDAQ:AMRN) from a hold rating to a buy rating in a report released on Friday, BidAskClub reports.

Other equities analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Amarin from a hold rating to a strong-buy rating and set a $20.00 price objective on the stock in a report on Thursday, November 7th. Jefferies Financial Group reaffirmed a buy rating and set a $30.00 target price on shares of Amarin in a report on Friday, November 29th. Roth Capital reaffirmed a buy rating and set a $31.00 target price on shares of Amarin in a report on Tuesday, December 3rd. Cantor Fitzgerald reiterated a buy rating and issued a $35.00 price target on shares of Amarin in a research report on Monday, December 2nd. Finally, TheStreet upgraded shares of Amarin from a d rating to a c- rating in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. Amarin presently has a consensus rating of Buy and an average target price of $27.08.

Shares of NASDAQ:AMRN opened at $22.45 on Friday. The company has a quick ratio of 3.45, a current ratio of 3.69 and a debt-to-equity ratio of 0.02. Amarin has a 1 year low of $11.78 and a 1 year high of $24.67. The stock’s fifty day moving average price is $19.18 and its 200-day moving average price is $17.80.

Amarin (NASDAQ:AMRN) last released its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.03. Amarin had a negative return on equity of 26.67% and a negative net margin of 17.42%. The company had revenue of $112.40 million during the quarter, compared to the consensus estimate of $110.04 million. During the same period last year, the company earned ($0.08) EPS. Amarin’s revenue for the quarter was up 104.4% on a year-over-year basis. On average, analysts forecast that Amarin will post -0.13 EPS for the current year.

In related news, Director Lars Ekman sold 38,600 shares of Amarin stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $24.02, for a total transaction of $927,172.00. Also, CEO John F. Thero sold 475,546 shares of Amarin stock in a transaction on Monday, November 11th. The shares were sold at an average price of $24.02, for a total transaction of $11,422,614.92. Over the last quarter, insiders have sold 788,600 shares of company stock valued at $18,088,620. 2.75% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the business. Valeo Financial Advisors LLC raised its position in shares of Amarin by 23,330.0% during the third quarter. Valeo Financial Advisors LLC now owns 2,343 shares of the biopharmaceutical company’s stock valued at $36,000 after buying an additional 2,333 shares during the last quarter. Endurance Wealth Management Inc. grew its stake in Amarin by 66.7% during the third quarter. Endurance Wealth Management Inc. now owns 2,500 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 1,000 shares in the last quarter. Tobam increased its holdings in Amarin by 45.5% in the 2nd quarter. Tobam now owns 3,200 shares of the biopharmaceutical company’s stock valued at $62,000 after acquiring an additional 1,000 shares during the last quarter. Quantamental Technologies LLC bought a new stake in Amarin in the 2nd quarter valued at $74,000. Finally, Capital Investment Advisory Services LLC lifted its stake in Amarin by 514.3% in the 2nd quarter. Capital Investment Advisory Services LLC now owns 4,300 shares of the biopharmaceutical company’s stock worth $78,000 after purchasing an additional 3,600 shares in the last quarter. Institutional investors and hedge funds own 52.90% of the company’s stock.

Amarin Company Profile

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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Analyst Recommendations for Amarin (NASDAQ:AMRN)

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