Amarin Received its Third Buy in a Row

By Jason Carr

After SunTrust Robinson and H.C. Wainwright assigned a Buy rating to Amarin in the last month, the company received another Buy, this time from Cantor Fitzgerald. Analyst Louise Chen assigned a Buy rating to Amarin (NASDAQ: AMRN) today and set a price target of $10. The company’s shares opened today at $3.53.

Chen noted:

“AMRN today released a real world analysis showing high triglyceride levels are associated with increased cardiovascular events and medical costs.”

According to TipRanks.com, Chen is ranked 0 out of 5 stars with an average return of -9.6% and a 40.3% success rate. Chen covers the Healthcare sector, focusing on stocks such as Aclaris Therapeutics Inc, Sucampo Pharmaceuticals, and ANI Pharmaceuticals Inc.

Currently, the analyst consensus on Amarin is Strong Buy and the average price target is $8.25, representing a 133.7% upside.

In a report issued on October 30, SunTrust Robinson also reiterated a Buy rating on the stock with a $6 price target.

Based on Amarin’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $49.19 million and GAAP net loss of $11.24 million. In comparison, last year the company earned revenue of $30.17 million and had a GAAP net loss of $14.53 million.

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Amarin Corp. Plc is a biopharmaceutical company, which focuses on the commercialization and development of therapeutics for cardiovascular health. The company’s product development program leverages its extensive experience in lipid science and the potential therapeutic benefits of polyunsaturated fatty acids.