Amarin (NASDAQ:AMRN) Given New $12.00 Price Target at The Goldman Sachs Group

Amarin (NASDAQ:AMRN - Get Free Report) had its price objective lifted by investment analysts at The Goldman Sachs Group from $7.00 to $12.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a "sell" rating on the biopharmaceutical company's stock. The Goldman Sachs Group's price objective suggests a potential downside of 23.44% from the company's previous close.

Separately, Wall Street Zen upgraded shares of Amarin from a "sell" rating to a "hold" rating in a report on Thursday, May 8th.

Amarin Price Performance

Shares of Amarin stock traded down $0.37 during trading on Wednesday, reaching $15.67. 220,208 shares of the company traded hands, compared to its average volume of 80,298. Amarin has a 1-year low of $7.08 and a 1-year high of $17.18. The company has a 50 day moving average price of $11.39 and a 200-day moving average price of $10.56. The firm has a market capitalization of $324.61 million, a PE ratio of -4.34 and a beta of 0.71.

Amarin (NASDAQ:AMRN - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.02. Amarin had a negative net margin of 41.07% and a negative return on equity of 17.21%. Equities research analysts expect that Amarin will post -0.15 earnings per share for the current year.

Institutional Trading of Amarin

A number of large investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC increased its holdings in Amarin by 112.3% during the first quarter. Acadian Asset Management LLC now owns 3,791,515 shares of the biopharmaceutical company's stock worth $1,685,000 after buying an additional 2,005,713 shares during the last quarter. Waterfront Wealth Inc. boosted its position in Amarin by 1.3% during the first quarter. Waterfront Wealth Inc. now owns 2,514,615 shares of the biopharmaceutical company's stock worth $1,127,000 after purchasing an additional 32,849 shares during the period. Jones Financial Companies Lllp boosted its position in Amarin by 449,522.1% during the first quarter. Jones Financial Companies Lllp now owns 1,811,977 shares of the biopharmaceutical company's stock worth $815,000 after purchasing an additional 1,811,574 shares during the period. BNP Paribas Financial Markets boosted its position in Amarin by 3.0% during the fourth quarter. BNP Paribas Financial Markets now owns 1,340,920 shares of the biopharmaceutical company's stock worth $650,000 after purchasing an additional 39,452 shares during the period. Finally, Quinn Opportunity Partners LLC boosted its position in Amarin by 85.2% during the fourth quarter. Quinn Opportunity Partners LLC now owns 1,106,539 shares of the biopharmaceutical company's stock worth $537,000 after purchasing an additional 508,989 shares during the period. Hedge funds and other institutional investors own 22.25% of the company's stock.

About Amarin

Amarin Corporation plc, a pharmaceutical company, engages in the development and commercialization of therapeutics for the treatment of cardiovascular diseases in the United States, European countries, Canada, Lebanon, and the United Arab Emirates. The company offers 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.

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