Cantor Fitzgerald Analysts Give Amarin (NASDAQ:AMRN) a $35.00 Price Target

Cantor Fitzgerald set a $35.00 price objective on Amarin (NASDAQ:AMRN) in a research report released on Thursday morning, TipRanks reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Other analysts have also issued reports about the company. BidaskClub lowered RigNet from a sell rating to a strong sell rating in a report on Thursday, March 21st. Stifel Nicolaus set a $27.00 target price on Amarin and gave the stock a buy rating in a report on Tuesday, July 2nd. Jefferies Financial Group reaffirmed a buy rating and set a $30.00 target price on shares of Amarin in a report on Tuesday, July 9th. Roth Capital started coverage on Amarin in a report on Monday, June 17th. They set a buy rating and a $31.00 target price on the stock. Finally, HC Wainwright set a $51.00 target price on Amarin and gave the stock a buy rating in a report on Wednesday, July 3rd. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $30.75.

Shares of AMRN stock opened at $21.89 on Thursday. The company has a 50-day moving average price of $19.27. The company has a current ratio of 2.20, a quick ratio of 1.84 and a debt-to-equity ratio of 0.30. Amarin has a fifty-two week low of $2.35 and a fifty-two week high of $23.91.

Amarin (NASDAQ:AMRN) last announced its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.04. The business had revenue of $73.30 million for the quarter, compared to analyst estimates of $67.30 million. Amarin had a negative return on equity of 450.07% and a negative net margin of 45.16%. The company’s revenue was up 67.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.07) earnings per share. Research analysts anticipate that Amarin will post -0.24 EPS for the current year.

In other Amarin news, Director David M. Stack sold 51,991 shares of the stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $22.28, for a total transaction of $1,158,359.48. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Steven B. Ketchum sold 9,541 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $18.67, for a total value of $178,130.47. The disclosure for this sale can be found here. Insiders have sold 679,159 shares of company stock worth $13,728,330 in the last quarter. 2.75% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. Global Retirement Partners LLC boosted its position in Amarin by 30.7% during the first quarter. Global Retirement Partners LLC now owns 3,414 shares of the biopharmaceutical company’s stock worth $71,000 after purchasing an additional 802 shares in the last quarter. F3Logic LLC boosted its position in Amarin by 8.0% during the first quarter. F3Logic LLC now owns 12,515 shares of the biopharmaceutical company’s stock worth $261,000 after purchasing an additional 925 shares in the last quarter. UBP Investment Advisors SA boosted its position in Amarin by 7.7% during the first quarter. UBP Investment Advisors SA now owns 14,000 shares of the biopharmaceutical company’s stock worth $291,000 after purchasing an additional 1,000 shares in the last quarter. Executive Wealth Management LLC boosted its position in Amarin by 17.0% during the first quarter. Executive Wealth Management LLC now owns 8,600 shares of the biopharmaceutical company’s stock worth $179,000 after purchasing an additional 1,250 shares in the last quarter. Finally, Comerica Bank boosted its position in Amarin by 8.0% during the first quarter. Comerica Bank now owns 18,481 shares of the biopharmaceutical company’s stock worth $360,000 after purchasing an additional 1,376 shares in the last quarter. Institutional investors own 47.62% 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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Analyst Recommendations for Amarin (NASDAQ:AMRN)

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