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Cutter & CO Brokerage Inc. decreased its stake in shares of Amarin Co. plc (NASDAQ:AMRN – Get Rating) by 8.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 762,932 shares of the biopharmaceutical company’s stock after selling 67,300 shares during the quarter. Cutter & CO Brokerage Inc. owned about 0.19% of Amarin worth $832,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in AMRN. Creative Planning increased its holdings in Amarin by 66.4% during the second quarter. Creative Planning now owns 17,285 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 6,900 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Amarin in the 1st quarter valued at about $31,000. American Financial Advisors LLC acquired a new stake in Amarin in the 3rd quarter valued at about $32,000. Advisor Resource Council acquired a new position in Amarin during the second quarter worth approximately $37,000. Finally, Capital Wealth Alliance LLC bought a new stake in Amarin in the second quarter valued at approximately $46,000. Institutional investors own 31.94% of the company’s stock.
Analysts Set New Price Targets
AMRN has been the topic of a number of recent analyst reports. Jefferies Financial Group raised Amarin from a “hold” rating to a “buy” rating and boosted their target price for the stock from $1.30 to $3.00 in a report on Friday, January 6th. StockNews.com upgraded shares of Amarin from a “sell” rating to a “hold” rating in a research note on Friday, October 28th. Finally, SVB Leerink decreased their price target on shares of Amarin from $3.00 to $2.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 19th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $2.38.
Amarin Stock Down 1.6 %
AMRN traded down $0.03 during trading on Friday, hitting $1.81. 81,296 shares of the company’s stock were exchanged, compared to its average volume of 5,118,464. Amarin Co. plc has a fifty-two week low of $1.04 and a fifty-two week high of $3.82. The stock has a market cap of $730.93 million, a P/E ratio of -8.00 and a beta of 1.73. The business’s 50 day moving average is $1.33 and its two-hundred day moving average is $1.31.
Amarin (NASDAQ:AMRN – Get Rating) last announced its quarterly earnings results on Thursday, October 27th. The biopharmaceutical company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.05. The business had revenue of $89.88 million for the quarter, compared to analysts’ expectations of $88.93 million. Amarin had a negative net margin of 21.72% and a negative return on equity of 14.92%. On average, sell-side analysts forecast that Amarin Co. plc will post -0.27 earnings per share for the current year.
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.
Further Reading
- Get a free copy of the StockNews.com research report on Amarin (AMRN)
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Want to see what other hedge funds are holding AMRN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amarin Co. plc (NASDAQ:AMRN – Get Rating).
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