11,050 Shares in Amarin Co. plc (NASDAQ:AMRN) Acquired by Arete Wealth Advisors LLC

Posted by on Jul 25th, 2023

Arete Wealth Advisors LLC acquired a new position in shares of Amarin Co. plc (NASDAQ:AMRN – Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 11,050 shares of the biopharmaceutical company’s stock, valued at approximately $16,575,000,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMRN. Creative Planning grew its stake in shares of Amarin by 66.4% in the second quarter. Creative Planning now owns 17,285 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 6,900 shares in the last quarter. UBS Group AG grew its stake in shares of Amarin by 0.8% in the second quarter. UBS Group AG now owns 887,084 shares of the biopharmaceutical company’s stock valued at $1,322,000 after buying an additional 7,003 shares in the last quarter. Bank of Montreal Can grew its stake in shares of Amarin by 39.1% in the second quarter. Bank of Montreal Can now owns 28,693 shares of the biopharmaceutical company’s stock valued at $56,000 after buying an additional 8,068 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Amarin in the first quarter valued at $31,000. Finally, Amundi grew its stake in Amarin by 2.5% during the 4th quarter. Amundi now owns 410,854 shares of the biopharmaceutical company’s stock worth $748,000 after purchasing an additional 10,136 shares in the last quarter. Hedge funds and other institutional investors own 24.50% of the company’s stock.

Amarin Price Performance

Shares of NASDAQ AMRN opened at $1.16 on Tuesday. The company has a market capitalization of $468.44 million, a price-to-earnings ratio of -5.04 and a beta of 1.73. The business has a 50-day moving average of $1.21 and a two-hundred day moving average of $1.49. Amarin Co. plc has a 1 year low of $1.04 and a 1 year high of $2.23.

Amarin (NASDAQ:AMRN – Get Free Report) last announced its quarterly earnings results on Wednesday, May 3rd. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). The business had revenue of $85.98 million for the quarter, compared to analysts’ expectations of $82.58 million. Amarin had a negative return on equity of 15.45% and a negative net margin of 25.16%. As a group, equities research analysts expect that Amarin Co. plc will post -0.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on AMRN shares. The Goldman Sachs Group lowered their target price on Amarin from $1.50 to $1.00 and set a “sell” rating for the company in a research note on Thursday, July 20th. Northland Securities lowered their target price on Amarin from $2.00 to $1.25 in a research note on Wednesday, July 19th. Finally, StockNews.com started coverage on Amarin in a research note on Thursday, May 18th. They set a “hold” rating for the company.

Amarin Company Profile

(Free Report)

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. It 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.

See Also

Institutional Ownership by Quarter for Amarin (NASDAQ:AMRN)

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