Amarin (NASDAQ:AMRN) Receives New Coverage from Analysts at Leerink Swann

Leerink Swann initiated coverage on shares of Amarin (NASDAQ:AMRN) in a research note released on Wednesday, The Fly reports. The firm issued an outperform rating on the biopharmaceutical company’s stock.

A number of other research firms have also weighed in on AMRN. Cantor Fitzgerald set a $35.00 price target on shares of Amarin and gave the stock a buy rating in a research report on Friday, August 9th. Roth Capital started coverage on shares of Amarin in a research report on Monday, June 17th. They set a buy rating and a $31.00 price target on the stock. BidaskClub lowered shares of Amarin from a hold rating to a sell rating in a research report on Wednesday, July 24th. Zacks Investment Research lowered shares of Amarin from a buy rating to a hold rating in a research report on Wednesday, July 24th. Finally, Jefferies Financial Group restated a buy rating and set a $30.00 price target on shares of Amarin in a research report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Buy and an average target price of $29.89.

Shares of NASDAQ AMRN opened at $15.15 on Wednesday. The company’s 50-day simple moving average is $18.90 and its 200-day simple moving average is $18.67. Amarin has a 52-week low of $2.65 and a 52-week high of $23.91. The company has a current ratio of 2.01, a quick ratio of 1.76 and a debt-to-equity ratio of 0.18.

Amarin (NASDAQ:AMRN) last announced its earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($0.01) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. Amarin had a negative net margin of 27.51% and a negative return on equity of 111.75%. The business had revenue of $100.40 million for the quarter, compared to analyst estimates of $99.54 million. During the same quarter last year, the business earned ($0.10) earnings per share. The company’s revenue for the quarter was up 90.9% compared to the same quarter last year. Equities analysts expect that Amarin will post -0.2 EPS for the current fiscal year.

In other Amarin news, Director Joseph S. Zakrzewski sold 100,000 shares of Amarin stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $23.82, for a total transaction of $2,382,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Joseph T. Kennedy sold 27,229 shares of Amarin stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $17.92, for a total transaction of $487,943.68. The disclosure for this sale can be found here. Insiders have sold 629,214 shares of company stock worth $12,804,139 over the last ninety days. 2.75% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the business. Wealthcare Advisory Partners LLC purchased a new position in Amarin during the first quarter worth about $42,000. University of Texas Texas AM Investment Managment Co. purchased a new position in Amarin during the first quarter worth about $44,000. Kistler Tiffany Companies LLC raised its stake in Amarin by 166.7% during the second quarter. Kistler Tiffany Companies LLC now owns 2,400 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 1,500 shares during the period. Winslow Evans & Crocker Inc. raised its stake in shares of Amarin by 150.0% in the 1st quarter. Winslow Evans & Crocker Inc. now owns 2,500 shares of the biopharmaceutical company’s stock valued at $52,000 after acquiring an additional 1,500 shares during the period. Finally, Tobam raised its stake in shares of 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 period. 47.88% of the stock is currently owned by institutional investors.

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.

Further Reading: How Investors Can Profit from Options Trading

The Fly

Analyst Recommendations for Amarin (NASDAQ:AMRN)

Receive News & Ratings for Amarin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amarin and related companies with MarketBeat.com's FREE daily email newsletter.