Amarin (NASDAQ:AMRN) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Amarin (NASDAQ:AMRN) from a strong-buy rating to a hold rating in a research note released on Monday morning, Zacks.com reports.

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. “

Several other equities research analysts also recently commented on the company. Goldman Sachs Group assumed coverage on Amarin in a report on Tuesday, October 15th. They issued a neutral rating and a $17.00 price objective for the company. Cantor Fitzgerald reissued a buy rating and issued a $35.00 price objective on shares of Amarin in a report on Thursday, January 2nd. HC Wainwright reissued a buy rating and issued a $51.00 price objective on shares of Amarin in a report on Thursday, January 9th. ValuEngine raised Amarin from a hold rating to a buy rating in a report on Friday, January 10th. Finally, Roth Capital reissued a buy rating and issued a $31.00 price objective on shares of Amarin in a report on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $27.23.

NASDAQ AMRN opened at $19.40 on Monday. The company has a market cap of $6.90 billion, a PE ratio of -49.74 and a beta of 1.05. The company has a current ratio of 3.69, a quick ratio of 3.45 and a debt-to-equity ratio of 0.02. Amarin has a 12 month low of $13.76 and a 12 month high of $26.12. The stock has a 50 day moving average of $21.36 and a 200-day moving average of $18.45.

Amarin (NASDAQ:AMRN) last released its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.03. The company had revenue of $112.40 million during the quarter, compared to the consensus estimate of $110.04 million. Amarin had a negative return on equity of 26.67% and a negative net margin of 17.42%. The firm’s revenue for the quarter was up 104.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.08) EPS. As a group, sell-side analysts predict that Amarin will post -0.1 EPS for the current fiscal year.

In related news, CEO John F. Thero sold 274,454 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $20.91, for a total value of $5,738,833.14. Also, Director Lars Ekman sold 38,600 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $24.02, for a total value of $927,172.00. In the last 90 days, insiders sold 788,600 shares of company stock worth $18,088,620. 2.75% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of AMRN. Envestnet Asset Management Inc. bought a new stake in Amarin in the 2nd quarter valued at $213,000. Wells Fargo & Company MN increased its position in Amarin by 29.3% during the 2nd quarter. Wells Fargo & Company MN now owns 148,530 shares of the biopharmaceutical company’s stock worth $2,880,000 after buying an additional 33,622 shares during the period. Bank of Montreal Can increased its position in Amarin by 113.3% during the 2nd quarter. Bank of Montreal Can now owns 27,725 shares of the biopharmaceutical company’s stock worth $538,000 after buying an additional 14,725 shares during the period. Bank of New York Mellon Corp increased its position in Amarin by 47.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 53,240 shares of the biopharmaceutical company’s stock worth $1,033,000 after buying an additional 17,179 shares during the period. Finally, Glen Harbor Capital Management LLC increased its position in Amarin by 4.0% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 22,616 shares of the biopharmaceutical company’s stock worth $439,000 after buying an additional 880 shares during the period. Institutional investors and hedge funds own 52.79% of the company’s stock.

About Amarin

Amarin Corp. Plc is a biopharmaceutical company, which focuses on the commercialization and development of therapeutics for cardiovascular health. Its product development program leverages its experience in lipid science and the potential therapeutic benefits of polyunsaturated fatty acids. It has developed and markets Vascepa capsules through wholesale.

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