Amarin Co. plc (NASDAQ:AMRN) Given Average Recommendation of “Hold” by Brokerages

Shares of Amarin Co. plc (NASDAQ:AMRNGet Rating) have been assigned an average recommendation of “Hold” from the eight brokerages that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, three have given a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $3.75.

Several research firms have recently issued reports on AMRN. Cantor Fitzgerald restated an “overweight” rating on shares of Amarin in a research report on Wednesday, March 2nd. SVB Leerink lowered Amarin from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $10.00 to $3.00 in a research report on Thursday, May 5th. Northland Securities lowered Amarin from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 4th. StockNews.com lowered Amarin from a “hold” rating to a “sell” rating in a research report on Wednesday, May 11th. Finally, JPMorgan Chase & Co. cut Amarin from a “neutral” rating to an “underweight” rating in a report on Friday, May 6th.

Shares of AMRN stock opened at $1.66 on Wednesday. The stock has a 50-day moving average price of $2.84 and a 200 day moving average price of $3.30. The firm has a market cap of $658.26 million, a price-to-earnings ratio of -33.19 and a beta of 2.07. Amarin has a 12 month low of $1.11 and a 12 month high of $5.97.

Amarin (NASDAQ:AMRNGet Rating) last announced its quarterly earnings data on Wednesday, May 4th. The biopharmaceutical company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.06). The firm had revenue of $94.60 million during the quarter, compared to analyst estimates of $128.21 million. Amarin had a negative return on equity of 1.31% and a negative net margin of 4.15%. Amarin’s revenue for the quarter was down 33.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.03 earnings per share. On average, analysts expect that Amarin will post -0.24 EPS for the current year.

Large investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its holdings in shares of Amarin by 24.1% during the 4th quarter. Van ECK Associates Corp now owns 592,533 shares of the biopharmaceutical company’s stock valued at $1,997,000 after purchasing an additional 114,987 shares in the last quarter. Cornerstone Investment Partners LLC bought a new stake in Amarin in the 4th quarter valued at approximately $209,000. LPL Financial LLC lifted its stake in Amarin by 2.8% in the 3rd quarter. LPL Financial LLC now owns 343,568 shares of the biopharmaceutical company’s stock valued at $1,752,000 after acquiring an additional 9,464 shares in the last quarter. Gyon Technologies Capital Management LP bought a new stake in Amarin in the 3rd quarter valued at approximately $993,000. Finally, Atom Investors LP bought a new stake in Amarin in the 3rd quarter valued at approximately $226,000. Institutional investors and hedge funds own 35.42% of the company’s stock.

About Amarin (Get Rating)

Amarin Corporation plc, a pharmaceutical company, engages in the development and commercialization of therapeutics for the treatment of cardiovascular diseases in the United States, Germany, Canada, Lebanon, and the United Arab Emirates. Its lead product is VASCEPA, a prescription-only omega-3 fatty acid product, used as an adjunct to diet for reducing triglyceride levels in adult patients with severe hypertriglyceridemia.

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Analyst Recommendations for Amarin (NASDAQ:AMRN)

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