Amarin (NASDAQ:AMRN) Earns Buy Rating from Jefferies Financial Group

Jefferies Financial Group reiterated their buy rating on shares of Amarin (NASDAQ:AMRN) in a research note released on Tuesday morning, Briefing.com Automated Import reports. They currently have a $30.00 price target on the biopharmaceutical company’s stock. Jefferies Financial Group also issued estimates for Amarin’s Q2 2019 earnings at ($0.02) EPS, Q3 2019 earnings at ($0.06) EPS, Q4 2019 earnings at ($0.05) EPS, FY2019 earnings at ($0.22) EPS and FY2020 earnings at ($0.21) EPS.

A number of other equities analysts also recently weighed in on AMRN. Stifel Nicolaus set a $27.00 target price on Amarin and gave the company a buy rating in a report on Tuesday, July 2nd. Cantor Fitzgerald set a $35.00 price target on Amarin and gave the company a buy rating in a research note on Tuesday, July 2nd. Zacks Investment Research raised HB Fuller from a sell rating to a hold rating in a research note on Wednesday, July 3rd. Roth Capital initiated coverage on Amarin in a research note on Monday, June 17th. They issued a buy rating and a $31.00 price target for the company. Finally, HC Wainwright set a $51.00 price target on Amarin and gave the company a buy rating in a research note on Wednesday, July 3rd. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $30.75.

Shares of Amarin stock opened at $22.50 on Tuesday. The company has a current ratio of 2.20, a quick ratio of 1.84 and a debt-to-equity ratio of 0.30. The business has a 50-day simple moving average of $19.18. Amarin has a 52 week low of $2.35 and a 52 week high of $23.91. The company has a market capitalization of $7.27 billion, a PE ratio of -57.69 and a beta of 1.18.

Amarin (NASDAQ:AMRN) last issued its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.04. The firm had revenue of $73.30 million for the quarter, compared to analysts’ expectations of $67.30 million. Amarin had a negative net margin of 45.16% and a negative return on equity of 450.07%. Amarin’s revenue for the quarter was up 67.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.07) earnings per share. Equities research analysts anticipate that Amarin will post -0.22 EPS for the current fiscal year.

In other news, insider Steven B. Ketchum sold 9,541 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $18.67, for a total transaction of $178,130.47. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Joseph T. Kennedy sold 27,230 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $18.69, for a total value of $508,928.70. The disclosure for this sale can be found here. Insiders have sold 627,168 shares of company stock worth $12,569,970 in the last 90 days. Company insiders own 2.75% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. New York State Common Retirement Fund purchased a new stake in shares of Amarin during the fourth quarter valued at approximately $170,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Amarin in the fourth quarter worth $791,000. Advisor Group Inc. increased its stake in shares of Amarin by 295.9% in the fourth quarter. Advisor Group Inc. now owns 23,918 shares of the biopharmaceutical company’s stock worth $324,000 after buying an additional 17,877 shares during the last quarter. NumerixS Investment Technologies Inc bought a new stake in shares of Amarin in the fourth quarter worth $131,000. Finally, Elk Creek Partners LLC bought a new stake in shares of Amarin in the fourth quarter worth $5,300,000. Institutional investors own 47.62% of the company’s stock.

About Amarin

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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