BidaskClub Downgrades Amarin (NASDAQ:AMRN) to Sell

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Amarin (NASDAQ:AMRN) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Wednesday, BidAskClub reports.

Other equities research analysts also recently issued reports about the stock. Stifel Nicolaus set a $27.00 target price on shares of Amarin and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Roth Capital assumed coverage on shares of Amarin in a research note on Monday, June 17th. They issued a “buy” rating and a $31.00 target price for the company. Zacks Investment Research downgraded shares of Phoenix New Media from a “hold” rating to a “sell” rating in a research note on Tuesday. Jefferies Financial Group restated a “buy” rating and issued a $30.00 target price on shares of Amarin in a research note on Tuesday, July 9th. Finally, Cantor Fitzgerald set a $35.00 target price on shares of Amarin and gave the company a “buy” rating in a research note on Thursday, July 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $30.50.

AMRN traded down $0.06 during trading on Wednesday, hitting $18.43. The stock had a trading volume of 832,411 shares, compared to its average volume of 12,621,664. The stock has a market cap of $6.17 billion, a P/E ratio of -47.26 and a beta of 1.18. Amarin has a twelve month low of $2.35 and a twelve month high of $23.91. The company has a quick ratio of 1.84, a current ratio of 2.20 and a debt-to-equity ratio of 0.30. The business’s 50 day simple moving average is $19.74.

Amarin (NASDAQ:AMRN) last announced its earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.04. The company had revenue of $73.30 million during the quarter, compared to the consensus estimate of $67.30 million. Amarin had a negative net margin of 45.16% and a negative return on equity of 450.07%. Amarin’s revenue was up 67.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.07) earnings per share. On average, sell-side analysts anticipate that Amarin will post -0.24 EPS for the current fiscal year.

In related news, General Counsel Joseph T. Kennedy sold 27,230 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $18.69, for a total transaction of $508,928.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Aaron Berg sold 113,195 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $18.59, for a total transaction of $2,104,295.05. The disclosure for this sale can be found here. Insiders have sold 679,159 shares of company stock valued at $13,728,330 over the last quarter. Insiders own 2.75% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of AMRN. Global Retirement Partners LLC boosted its holdings in Amarin by 266.3% in the 4th quarter. Global Retirement Partners LLC now owns 2,612 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 1,899 shares during the last quarter. Financial Advocates Investment Management boosted its holdings in Amarin by 45.0% in the 4th quarter. Financial Advocates Investment Management now owns 29,000 shares of the biopharmaceutical company’s stock valued at $41,000 after purchasing an additional 9,000 shares during the last quarter. Wealthcare Advisory Partners LLC acquired a new position in Amarin in the 1st quarter valued at about $42,000. University of Texas Texas AM Investment Managment Co. acquired a new position in Amarin in the 1st quarter valued at about $44,000. Finally, Kistler Tiffany Companies LLC boosted its holdings in Amarin by 166.7% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,400 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 1,500 shares during the last quarter. Institutional investors own 47.67% 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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