Amarin (AMRN) Raised to “Hold” at ValuEngine
Amarin (NASDAQ:AMRN) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a report released on Wednesday.
A number of other equities analysts have also issued reports on the company. Zacks Investment Research lowered Amarin from a “hold” rating to a “sell” rating in a research note on Wednesday. Cantor Fitzgerald set a $10.00 target price on Amarin and gave the stock a “buy” rating in a research note on Tuesday. HC Wainwright restated a “buy” rating and issued a $10.00 target price on shares of Amarin in a research note on Thursday, November 2nd. Finally, Jefferies Group restated a “buy” rating on shares of Amarin in a research note on Wednesday, October 11th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. Amarin presently has a consensus rating of “Hold” and an average target price of $7.75.
Shares of Amarin (NASDAQ:AMRN) traded up $0.32 during mid-day trading on Wednesday, reaching $3.91. The company had a trading volume of 4,027,369 shares, compared to its average volume of 1,740,136. The company has a quick ratio of 1.32, a current ratio of 1.63 and a debt-to-equity ratio of -1.48. Amarin has a one year low of $2.81 and a one year high of $4.47.
In other Amarin news, insider Steven B. Ketchum sold 63,479 shares of Amarin stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $3.48, for a total transaction of $220,906.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John F. Thero acquired 10,000 shares of Amarin stock in a transaction on Thursday, November 30th. The shares were bought at an average price of $3.24 per share, with a total value of $32,400.00. The disclosure for this purchase can be found here. Company insiders own 3.72% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMRN. Alkeon Capital Management LLC purchased a new position in shares of Amarin during the 3rd quarter valued at about $7,875,000. University of Notre Dame DU Lac acquired a new stake in shares of Amarin during the 3rd quarter valued at about $2,814,000. JPMorgan Chase & Co. grew its position in shares of Amarin by 681.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 278,134 shares of the biopharmaceutical company’s stock valued at $1,121,000 after acquiring an additional 242,544 shares during the period. GSA Capital Partners LLP grew its position in shares of Amarin by 135.4% during the 2nd quarter. GSA Capital Partners LLP now owns 342,800 shares of the biopharmaceutical company’s stock valued at $1,381,000 after acquiring an additional 197,200 shares during the period. Finally, Intrinsic Edge Capital Management LLC acquired a new stake in shares of Amarin during the 2nd quarter valued at about $725,000. Institutional investors and hedge funds own 40.12% of the company’s stock.
Amarin Company Profile
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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