Amarin (NASDAQ:AMRN) Given a $26.00 Price Target by Leerink Swann Analysts
Amarin (NASDAQ:AMRN) has been given a $26.00 target price by investment analysts at Leerink Swann in a research report issued to clients and investors on Tuesday, TipRanks reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Leerink Swann’s price target suggests a potential upside of 55.41% from the company’s previous close.
Other equities analysts have also recently issued research reports about the stock. Jefferies Financial Group set a $30.00 price objective on shares of Amarin and gave the company a “buy” rating in a research note on Tuesday, September 3rd. BidaskClub cut shares of Amarin from a “hold” rating to a “sell” rating in a research note on Wednesday, July 24th. Cantor Fitzgerald set a $35.00 price target on shares of Amarin and gave the company a “buy” rating in a report on Tuesday, September 3rd. Stifel Nicolaus reissued a “buy” rating and issued a $26.00 price target on shares of Amarin in a report on Wednesday, July 31st. Finally, Svb Leerink assumed coverage on shares of Amarin in a research report on Wednesday, August 14th. They set an “outperform” rating and a $26.00 price target for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $29.50.
AMRN traded up $0.42 during trading on Tuesday, reaching $16.73. 7,226,540 shares of the company were exchanged, compared to its average volume of 7,976,068. Amarin has a 12-month low of $2.65 and a 12-month high of $23.91. The company’s 50-day moving average is $16.08 and its two-hundred day moving average is $18.42. The company has a quick ratio of 1.76, a current ratio of 2.01 and a debt-to-equity ratio of 0.18. The company has a market cap of $5.67 billion, a price-to-earnings ratio of -42.90 and a beta of 1.27.
In other news, CFO Michael Wayne Kalb sold 50,000 shares of Amarin stock in a transaction on Monday, July 1st. The shares were sold at an average price of $19.67, for a total transaction of $983,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Aaron Berg sold 113,195 shares of Amarin stock in a transaction on Monday, June 24th. The stock was sold at an average price of $18.59, for a total transaction of $2,104,295.05. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 659,202 shares of company stock worth $13,058,754. 2.75% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pinnacle Associates Ltd. lifted its stake in Amarin by 55.1% during the first quarter. Pinnacle Associates Ltd. now owns 30,665 shares of the biopharmaceutical company’s stock worth $637,000 after purchasing an additional 10,900 shares during the last quarter. Laurel Wealth Advisors Inc. raised its holdings in shares of Amarin by 30.5% during the 1st quarter. Laurel Wealth Advisors Inc. now owns 86,050 shares of the biopharmaceutical company’s stock valued at $1,786,000 after buying an additional 20,100 shares in the last quarter. Capital Investment Advisory Services LLC lifted its position 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 buying an additional 3,600 shares during the last quarter. Comerica Bank lifted its position in Amarin by 8.0% in the 1st quarter. Comerica Bank now owns 18,481 shares of the biopharmaceutical company’s stock worth $360,000 after buying an additional 1,376 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in Amarin by 7.9% in the second quarter. Commonwealth Equity Services LLC now owns 64,704 shares of the biopharmaceutical company’s stock worth $1,254,000 after buying an additional 4,755 shares in the last quarter. 47.94% of the stock is currently owned by institutional investors and hedge funds.
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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