Amarin’s (AMRN) “Buy” Rating Reaffirmed at Jefferies Financial Group
Jefferies Financial Group reissued their buy rating on shares of Amarin (NASDAQ:AMRN) in a research note issued to investors on Tuesday, Briefing.com Automated Import reports. The firm currently has 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.
Several other equities research analysts have also recently commented on the company. Stifel Nicolaus set a $27.00 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. 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. BidaskClub cut RigNet from a sell rating to a strong sell rating in a research note on Thursday, March 21st. Finally, Roth Capital began 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. Three investment 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. The company presently has a consensus rating of Buy and a consensus price target of $30.75.
Shares of AMRN opened at $22.50 on Tuesday. The firm has a market cap of $7.27 billion, a P/E ratio of -57.69 and a beta of 1.18. Amarin has a fifty-two week low of $2.35 and a fifty-two week high of $23.91. The company has a quick ratio of 1.84, a current ratio of 2.20 and a debt-to-equity ratio of 0.30. The firm has a 50-day simple moving average of $19.18.
In other Amarin news, Director Joseph S. Zakrzewski sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $23.82, for a total transaction of $2,382,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Joseph T. Kennedy sold 27,230 shares of the company’s stock in a transaction that occurred 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 valued at $12,569,970 in the last ninety days. Company insiders own 2.75% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Neuburgh Advisers LLC bought a new stake in shares of Amarin in the fourth quarter valued at approximately $36,000. Global Retirement Partners LLC boosted its position in shares of Amarin by 266.3% in the fourth quarter. Global Retirement Partners LLC now owns 2,612 shares of the biopharmaceutical company’s stock valued at $36,000 after acquiring an additional 1,899 shares during the period. Financial Advocates Investment Management boosted its position in shares of Amarin by 45.0% in the fourth quarter. Financial Advocates Investment Management now owns 29,000 shares of the biopharmaceutical company’s stock valued at $41,000 after acquiring an additional 9,000 shares during the period. Wealthcare Advisory Partners LLC bought a new stake in shares of Amarin in the first quarter valued at approximately $42,000. Finally, University of Texas Texas AM Investment Managment Co. bought a new stake in shares of Amarin in the first quarter valued at approximately $44,000. 47.62% of the stock is owned by hedge funds and other institutional investors.
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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