Jefferies Reiterates a Buy Rating on Amarin

By Jason Carr

In a report released yesterday, Hugo Ong from Jefferies reiterated a Buy rating on Amarin (NASDAQ: AMRN), with a price target of $4.50. The company’s shares closed yesterday at $2.75.

According to TipRanks.com, Ong is a 1-star analyst with an average return of -4.6% and a 45.0% success rate. Ong covers the Healthcare sector, focusing on stocks such as Teva Pharma, Celldex, and Acelrx.

Amarin has an analyst consensus of Strong Buy.

Based on Amarin’s latest earnings report from March 31, the company posted quarterly revenue of $25.54M and quarterly net profit of -$29.77M. In comparison, last year the company earned revenue of $21.48M and had a net profit of -$30.68M.

Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is neutral on the stock. Most recently, in February 2016, John Thero, the President & CEO of AMRN bought 25,000 shares for a total of $34,250.

Amarin Corp. Plc is a biopharmaceutical company, which engages in the commercialization and development of therapeutics for cardiovascular health. It has developed and markets Vascepa capsules through wholesale. The company was founded by Geoffrey W. Guy on March 1, 1989 and is headquartered in Dublin, Ireland.