Amarin (AMRN) PT Set at $10.00 by Cantor Fitzgerald

Amarin (NASDAQ:AMRN) has been given a $10.00 target price by investment analysts at Cantor Fitzgerald in a research report issued to clients and investors on Wednesday. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price would indicate a potential upside of 226.80% from the company’s current price.

AMRN has been the subject of a number of other reports. BidaskClub cut shares of Amarin from a “sell” rating to a “strong sell” rating in a report on Thursday, August 24th. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 target price on shares of Amarin in a report on Wednesday, August 9th. ValuEngine raised shares of Amarin from a “sell” rating to a “hold” rating in a report on Thursday, August 31st. Zacks Investment Research cut shares of Amarin from a “buy” rating to a “hold” rating in a report on Friday, November 3rd. Finally, Jefferies Group reissued a “buy” rating on shares of Amarin in a research note on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. Amarin presently has a consensus rating of “Hold” and an average target price of $7.75.

Shares of Amarin (NASDAQ AMRN) traded down $0.06 during trading on Wednesday, reaching $3.06. 1,212,200 shares of the company’s stock were exchanged, compared to its average volume of 1,714,318. Amarin has a 12 month low of $2.81 and a 12 month high of $4.47. The company has a debt-to-equity ratio of -1.48, a current ratio of 1.63 and a quick ratio of 1.32.

Amarin (NASDAQ:AMRN) last issued its earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.01. The company had revenue of $47.10 million during the quarter, compared to analysts’ expectations of $45.85 million. During the same period last year, the business posted ($0.08) earnings per share. The company’s quarterly revenue was up 45.4% on a year-over-year basis. sell-side analysts predict that Amarin will post -0.22 earnings per share for the current year.

In other news, insider Steven B. Ketchum sold 63,479 shares of the firm’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $3.48, for a total transaction of $220,906.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John F. Thero acquired 10,000 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were acquired at an average cost 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.

A number of hedge funds have recently added to or reduced their stakes in the business. Alkeon Capital Management LLC purchased a new stake in Amarin in the 3rd quarter worth approximately $7,875,000. Morgan Stanley grew its stake in Amarin by 119.7% in the 1st quarter. Morgan Stanley now owns 1,138,992 shares of the biopharmaceutical company’s stock worth $3,645,000 after acquiring an additional 620,577 shares during the period. University of Notre Dame DU Lac purchased a new stake in Amarin in the 3rd quarter worth approximately $2,814,000. GSA Capital Partners LLP grew its stake in Amarin by 135.4% in the 2nd quarter. GSA Capital Partners LLP now owns 342,800 shares of the biopharmaceutical company’s stock worth $1,381,000 after acquiring an additional 197,200 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Amarin by 681.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 278,134 shares of the biopharmaceutical company’s stock valued at $1,121,000 after purchasing an additional 242,544 shares during the last quarter. 40.17% of the stock is owned by hedge funds and other institutional investors.

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About Amarin

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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