Amarin (NASDAQ:AMRN) Rating Increased to Strong-Buy at Zacks Research

Key Points

• Amarin has been upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating, reflecting improved analyst sentiment regarding the stock.
• Despite the upgrade, Goldman Sachs has set a price target of $12.00 and maintains a "sell" rating, indicating mixed opinions among analysts.
• Amarin reported quarterly earnings that surpassed expectations with $72.74 million in revenue, significantly higher than analysts' projections of $45.45 million.

Amarin (NASDAQ:AMRN - Get Free Report) was upgraded by research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Monday,Zacks.com reports.

Several other research firms have also recently commented on AMRN. Wall Street Zen upgraded Amarin from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. The Goldman Sachs Group increased their price target on Amarin from $7.00 to $12.00 and gave the company a "sell" rating in a research note on Wednesday, June 25th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Amarin in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $12.00.

Amarin Stock Down 1.5%

Shares of NASDAQ AMRN opened at $19.94 on Monday. The stock's 50 day moving average price is $16.47 and its two-hundred day moving average price is $14.07. Amarin has a 52-week low of $7.08 and a 52-week high of $20.65. The stock has a market capitalization of $412.36 million, a P/E ratio of -5.43 and a beta of 0.62.

Amarin (NASDAQ:AMRN - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, topping analysts' consensus estimates of ($0.66) by $0.63. The business had revenue of $72.74 million for the quarter, compared to analysts' expectations of $45.45 million. Amarin had a negative return on equity of 21.18% and a negative net margin of 47.22%. On average, analysts anticipate that Amarin will post -0.15 EPS for the current year.

Institutional Trading of Amarin

Several hedge funds and other institutional investors have recently modified their holdings of the business. Headlands Technologies LLC acquired a new stake in shares of Amarin in the second quarter worth $44,000. George Kaiser Family Foundation purchased a new stake in shares of Amarin during the second quarter worth $620,000. Jump Financial LLC purchased a new stake in shares of Amarin during the second quarter worth $623,000. GPS Wealth Strategies Group LLC purchased a new stake in shares of Amarin during the second quarter worth $32,000. Finally, Acadian Asset Management LLC raised its holdings in shares of 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 acquiring an additional 2,005,713 shares in the last quarter. Institutional investors and hedge funds own 22.25% of the company's stock.

Amarin Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.