Amarin (AMRN) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Amarin (NASDAQ:AMRN) from a hold rating to a sell rating in a research report sent to investors on Wednesday.

According to Zacks, "Amarin Corporation plc is a global pharmaceutical group which develops innovative pharmaceutical products across a range of therapeutic areas utilizing its proprietary advanced oral and transdermal drug delivery technologies. "

Other research analysts have also recently issued research reports about the company. ValuEngine cut Amarin from a hold rating to a sell rating in a research report on Thursday, November 16th. 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. Cantor Fitzgerald restated a buy rating and issued a $10.00 target price on shares of Amarin in a research note on Tuesday, September 26th. Finally, Jefferies Group restated a buy rating on shares of Amarin in a research note on Wednesday, October 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $7.75.

Shares of Amarin  traded up $0.13 during mid-day trading on Wednesday, reaching $4.09. The company’s stock had a trading volume of 1,905,484 shares, compared to its average volume of 1,510,000. The company has a market capitalization of $1,140.00, a P/E ratio of -15.15 and a beta of 0.66. The company has a debt-to-equity ratio of -1.48, a quick ratio of 1.32 and a current ratio of 1.63. Amarin has a 1-year low of $2.81 and a 1-year high of $4.47.

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

In related news, insider John F. Thero acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were bought at an average cost of $3.24 per share, for a total transaction of $32,400.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Steven B. Ketchum sold 63,479 shares of the business’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $3.48, for a total value of $220,906.92. . Insiders own 3.72% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. Alkeon Capital Management LLC purchased a new position in Amarin during the third quarter worth about $7,875,000. University of Notre Dame DU Lac purchased a new position in Amarin during the third quarter worth about $2,814,000. JPMorgan Chase & Co. grew its position in Amarin by 681.5% during the second quarter. JPMorgan Chase & Co. now owns 278,134 shares of the biopharmaceutical company’s stock worth $1,121,000 after buying an additional 242,544 shares in the last quarter. GSA Capital Partners LLP grew its position in Amarin by 135.4% during the second quarter. GSA Capital Partners LLP now owns 342,800 shares of the biopharmaceutical company’s stock worth $1,381,000 after buying an additional 197,200 shares in the last quarter. Finally, Intrinsic Edge Capital Management LLC purchased a new position in Amarin during the second quarter worth about $725,000. Institutional investors own 40.12% of the company’s stock.

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.