Amarin (NASDAQ:AMRN) Raised to "Buy" at Wall Street Zen

Key Points

• Amarin's stock rating was upgraded from a "hold" to a "buy" by Wall Street Zen, indicating increased confidence in the company's future performance.
• The Goldman Sachs Group adjusted their price target for Amarin from $7.00 to $12.00, maintaining a "sell" rating, suggesting caution to investors despite the upgrade from Wall Street Zen.
• Amarin reported quarterly earnings that exceeded analysts' expectations, with revenue of $72.74 million, compared to the anticipated $45.45 million, demonstrating strong performance in its market segment.

Wall Street Zen upgraded shares of Amarin (NASDAQ:AMRN - Free Report) from a hold rating to a buy rating in a research note released on Saturday.

Separately, The Goldman Sachs Group increased their target price on Amarin from $7.00 to $12.00 and gave the company a "sell" rating in a report on Wednesday, June 25th.

Amarin Trading Down 0.3%

Shares of AMRN stock traded down $0.05 on Friday, reaching $15.09. 30,244 shares of the company's stock were exchanged, compared to its average volume of 96,054. The company's fifty day simple moving average is $14.62 and its 200 day simple moving average is $11.81. The stock has a market capitalization of $312.41 million, a PE ratio of -4.11 and a beta of 0.84. Amarin has a 52 week low of $7.08 and a 52 week high of $17.49.

Amarin (NASDAQ:AMRN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.66) by $0.63. Amarin had a negative return on equity of 21.18% and a negative net margin of 47.22%. The business had revenue of $72.74 million for the quarter, compared to the consensus estimate of $45.45 million. As a group, sell-side analysts predict that Amarin will post -0.15 earnings per share for the current fiscal year.

Institutional Trading of Amarin

Hedge funds and other institutional investors have recently made changes to their positions in the company. GPS Wealth Strategies Group LLC purchased a new stake in shares of Amarin during the 2nd quarter worth approximately $32,000. Banque Cantonale Vaudoise purchased a new stake in Amarin in the 1st quarter valued at approximately $25,000. Kornitzer Capital Management Inc. KS lifted its stake in Amarin by 4.0% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 88,200 shares of the biopharmaceutical company's stock valued at $40,000 after buying an additional 3,400 shares in the last quarter. Generation Capital Management LLC purchased a new stake in Amarin in the 4th quarter valued at approximately $50,000. Finally, Stonepine Capital Management LLC purchased a new stake in Amarin in the 4th quarter valued at approximately $55,000. 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.