Van ECK Associates Corp lessened its holdings in Amarin Co. plc (NASDAQ:AMRN) by 1.3% during the second quarter, HoldingsChannel.com reports. The firm owned 322,457 shares of the biopharmaceutical company’s stock after selling 4,342 shares during the period. Van ECK Associates Corp’s holdings in Amarin were worth $1,412,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in AMRN. Sowell Financial Services LLC lifted its position in shares of Amarin by 182.9% in the first quarter. Sowell Financial Services LLC now owns 5,738 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 3,710 shares in the last quarter. Stonebridge Capital Advisors LLC bought a new stake in Amarin during the first quarter worth $34,000. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in Amarin during the second quarter worth $45,000. Covington Capital Management raised its position in Amarin by 2,500.0% during the first quarter. Covington Capital Management now owns 7,800 shares of the biopharmaceutical company’s stock worth $48,000 after acquiring an additional 7,500 shares in the last quarter. Finally, Brookstone Capital Management bought a new stake in Amarin during the second quarter worth $53,000. 32.33% of the stock is currently owned by institutional investors and hedge funds.
AMRN has been the topic of several analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price target on shares of Amarin in a research report on Monday, August 9th. Zacks Investment Research raised shares of Amarin from a “hold” rating to a “strong-buy” rating and set a $5.50 price target on the stock in a research report on Wednesday, June 30th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $10.00 price target on shares of Amarin in a research report on Friday, June 11th. Finally, SVB Leerink started coverage on shares of Amarin in a report on Thursday, September 9th. They issued an “outperform” rating and a $12.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Amarin has a consensus rating of “Buy” and a consensus price target of $9.44.
Amarin (NASDAQ:AMRN) last released its quarterly earnings results on Wednesday, August 4th. The biopharmaceutical company reported $0.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.05. Amarin had a net margin of 0.70% and a return on equity of 0.69%. The business had revenue of $154.50 million for the quarter, compared to the consensus estimate of $153.28 million. During the same period in the prior year, the company posted $0.04 earnings per share. Amarin’s revenue was up 14.2% compared to the same quarter last year. On average, equities research analysts expect that Amarin Co. plc will post -0.06 earnings per share for the current year.
In related news, CFO Michael Wayne Kalb sold 120,000 shares of the company’s stock in a transaction dated Thursday, August 12th. The shares were sold at an average price of $5.25, for a total value of $630,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.67% of the company’s stock.
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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