Insider Selling: Amarin Corporation PLC (AMRN) Insider Sells $220,906.92 in Stock
Amarin Corporation PLC (NASDAQ:AMRN) insider Steven B. Ketchum sold 63,479 shares of the firm’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $3.48, for a total transaction of $220,906.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Amarin Corporation PLC (NASDAQ AMRN) opened at 3.51 on Monday. The company has a 50-day moving average price of $3.28 and a 200-day moving average price of $3.32. Amarin Corporation PLC has a 12 month low of $2.75 and a 12 month high of $4.47. The company’s market capitalization is $950.48 million.
Amarin Corporation PLC (NASDAQ:AMRN) last issued its earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($0.05) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. The company had revenue of $44.95 million during the quarter, compared to analysts’ expectations of $40.35 million. The firm’s quarterly revenue was up 37.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.07) earnings per share. On average, analysts forecast that Amarin Corporation PLC will post ($0.21) EPS for the current fiscal year.
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A number of analysts recently issued reports on AMRN shares. BidaskClub upgraded Amarin Corporation PLC from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Zacks Investment Research upgraded Amarin Corporation PLC from a “sell” rating to a “hold” rating in a research report on Monday, July 3rd. Jefferies Group LLC raised their price target on Amarin Corporation PLC from $5.00 to $7.00 and gave the stock a “buy” rating in a research report on Friday, June 30th. Finally, HC Wainwright restated a “buy” rating and issued a $10.00 price target on shares of Amarin Corporation PLC in a research report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. Amarin Corporation PLC presently has a consensus rating of “Buy” and an average price target of $7.20.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN grew its holdings in shares of Amarin Corporation PLC by 4.8% during the 1st quarter. Wells Fargo & Company MN now owns 32,801 shares of the biopharmaceutical company’s stock worth $105,000 after purchasing an additional 1,500 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Amarin Corporation PLC by 27.1% during the 1st quarter. JPMorgan Chase & Co. now owns 35,590 shares of the biopharmaceutical company’s stock worth $114,000 after purchasing an additional 7,580 shares during the period. Westside Investment Management Inc. grew its holdings in shares of Amarin Corporation PLC by 1.1% during the 2nd quarter. Westside Investment Management Inc. now owns 27,350 shares of the biopharmaceutical company’s stock worth $114,000 after purchasing an additional 300 shares during the period. Perkins Capital Management Inc. grew its holdings in shares of Amarin Corporation PLC by 20.3% during the 2nd quarter. Perkins Capital Management Inc. now owns 41,500 shares of the biopharmaceutical company’s stock worth $167,000 after purchasing an additional 7,000 shares during the period. Finally, Stonepine Capital Management LLC purchased a new position in shares of Amarin Corporation PLC during the 2nd quarter worth $302,000. Institutional investors and hedge funds own 37.76% of the company’s stock.
About Amarin Corporation PLC
Amarin Corporation plc is a biopharmaceutical company with operations in lipid science focused on the commercialization and development of therapeutics for cardiovascular health. The Company operates through the development and commercialization of Vascepa segment. The Company’s lead product, Vascepa (icosapent ethyl) capsule, is approved by the United States Food and Drug Administration (FDA) for use as an adjunct to diet to reduce triglyceride levels in adult patients with severe hypertriglyceridemia.
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