Amarin (NASDAQ:AMRN) Price Target Lowered to $1.50 at The Goldman Sachs Group

Amarin (NASDAQ:AMRNGet Rating) had its price objective lowered by The Goldman Sachs Group from $1.75 to $1.50 in a research note issued on Tuesday, Stock Target Advisor reports. The firm currently has a “sell” rating on the biopharmaceutical company’s stock. The Goldman Sachs Group’s price target suggests a potential upside of 13.21% from the company’s previous close.

AMRN has been the subject of a number of other reports. JPMorgan Chase & Co. cut shares of Amarin from a “neutral” rating to an “underweight” rating in a report on Friday, May 6th. SVB Leerink lowered shares of Amarin from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $10.00 to $3.00 in a research report on Thursday, May 5th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Amarin in a research note on Wednesday, March 2nd. Northland Securities downgraded shares of Amarin from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 4th. Finally, StockNews.com upgraded shares of Amarin from a “sell” rating to a “hold” rating in a research note on Thursday, May 19th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.30.

NASDAQ:AMRN traded down $0.09 on Tuesday, hitting $1.33. 58,462 shares of the company’s stock traded hands, compared to its average volume of 4,096,628. The firm has a 50-day moving average price of $2.69 and a 200-day moving average price of $3.19. Amarin has a 1 year low of $1.11 and a 1 year high of $5.97. The company has a market cap of $525.42 million, a PE ratio of -26.59 and a beta of 2.08.

Amarin (NASDAQ:AMRNGet Rating) last announced its quarterly earnings results 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 business had revenue of $94.60 million for the quarter, compared to the consensus estimate of $128.21 million. Amarin had a negative net margin of 4.15% and a negative return on equity of 1.31%. The business’s revenue for the quarter was down 33.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.03 EPS. Analysts predict that Amarin will post -0.24 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Quantbot Technologies LP bought a new position in shares of Amarin in the first quarter worth approximately $31,000. Dynamic Technology Lab Private Ltd boosted its holdings in Amarin by 164.2% during the first quarter. Dynamic Technology Lab Private Ltd now owns 73,769 shares of the biopharmaceutical company’s stock worth $243,000 after buying an additional 45,849 shares in the last quarter. Fairmount Funds Management LLC increased its holdings in Amarin by 65.4% in the first quarter. Fairmount Funds Management LLC now owns 4,133,237 shares of the biopharmaceutical company’s stock valued at $13,598,000 after buying an additional 1,635,000 shares in the last quarter. 13D Management LLC acquired a new position in shares of Amarin in the first quarter worth about $6,659,000. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Amarin by 82.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 774,484 shares of the biopharmaceutical company’s stock worth $2,549,000 after acquiring an additional 349,764 shares in the last quarter. 35.42% of the stock is owned by institutional investors.

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.

Featured Stories

Stock Target Advisor logo

Analyst Recommendations for Amarin (NASDAQ:AMRN)

Receive News & Ratings for Amarin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amarin and related companies with MarketBeat.com's FREE daily email newsletter.