Amarin (NASDAQ:AMRN) Given Buy Rating at Cantor Fitzgerald

Amarin (NASDAQ:AMRN)‘s stock had its “buy” rating reissued by Cantor Fitzgerald in a report issued on Friday, TipRanks reports. They presently have a $10.00 price objective on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price indicates a potential upside of 105.76% from the stock’s current price.

Several other equities analysts have also recently issued reports on AMRN. The Goldman Sachs Group restated a “sell” rating and set a $5.00 price objective (down from $6.00) on shares of Amarin in a research note on Tuesday, May 18th. Zacks Investment Research upgraded shares of Amarin from a “sell” rating to a “hold” rating and set a $6.25 price target on the stock in a research report on Tuesday, March 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $9.41.

Shares of AMRN stock traded down $0.02 during trading hours on Friday, hitting $4.86. 36,655 shares of the company were exchanged, compared to its average volume of 5,755,685. The firm has a 50-day moving average price of $4.95. Amarin has a one year low of $3.36 and a one year high of $9.25. The company has a market cap of $1.92 billion, a PE ratio of -97.20 and a beta of 2.25.

Hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley increased its position in Amarin by 198.3% in the 4th quarter. Morgan Stanley now owns 5,975,266 shares of the biopharmaceutical company’s stock valued at $29,219,000 after acquiring an additional 3,972,115 shares during the period. Edgestream Partners L.P. bought a new stake in shares of Amarin in the 1st quarter worth $10,589,000. Clearbridge Investments LLC raised its stake in shares of Amarin by 56.4% in the 4th quarter. Clearbridge Investments LLC now owns 4,625,120 shares of the biopharmaceutical company’s stock worth $22,617,000 after buying an additional 1,667,609 shares in the last quarter. Oracle Investment Management Inc. lifted its holdings in shares of Amarin by 101.9% in the first quarter. Oracle Investment Management Inc. now owns 2,084,839 shares of the biopharmaceutical company’s stock valued at $12,947,000 after buying an additional 1,052,053 shares during the period. Finally, Point72 Asset Management L.P. boosted its stake in Amarin by 188.2% during the first quarter. Point72 Asset Management L.P. now owns 1,508,000 shares of the biopharmaceutical company’s stock valued at $9,365,000 after buying an additional 984,700 shares in the last quarter. 35.25% of the stock is currently owned by institutional investors and hedge funds.

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. 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.

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Analyst Recommendations for Amarin (NASDAQ:AMRN)

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