Sarissa Capital Management LP recently announced the acquisition of new stake in Amarin Corp ADR (NASDAQ:AMRN). The institutional investor has increased its shareholding in the Healthcare company by 220.52% to 33.47 million shares with purchase of 23.03 million shares. This fresh investment now brings its stake to 8.63% valued currently at $26.17 million. In addition, Kynam Capital Management LP raised its holdings by 22957.0 to 12.02 million shares. And DG Capital Management LLC has lifted its position by 4.57% or 0.25 million shares – to 5.72 million shares.
With over 5.97 million Amarin Corp ADR (AMRN) shares trading Tuesday and a closing price of $0.97 on the day, the dollar volume was approximately $5.79 million. The shares have shown a negative half year performance of -19.76% and its price on 01/09/24 gained nearly 7.18%. Currently, there are 408.55M common shares owned by the public and among those 406.64M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for AMRN have a consensus price objective of $1.42. The analysts have set the share’s price value over the next 12 months at a high of $2.00 and a low of $1.00. The average price target is 31.69% above its recent price level and an upside to the estimated low will see the stock gain 3.0% over that period. But an upside of 51.5% will see the stock hit the forecast high price target while median target price for the stock is $1.25.
Insiders at the company have transacted a total of 17 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 8 of these insider trades were purchases, accounting for 423,128 shares. Insider sales of the common stock occurred on 9 occasions, with total insider shares sold totaling 186,976 shares.
The top 3 mutual fund holders in Amarin Corp ADR are 13D Activist Fund, PSM Value Strategy UI, and ClearBridge Small Cap Value Fund. 13D Activist Fund owns 1.23 million shares of the company’s stock, all valued at over $0.96 million. The company sold -2.58 million shares recently to bring their total holdings to about 0.32% of the shares outstanding. ClearBridge Small Cap Value Fund now owns shares totaling to 0.14% of the shares outstanding.
Shares of Amarin Corp ADR (NASDAQ: AMRN) opened at $0.89, down -$0.02 from a prior closing price of $0.91. However, the script later moved the day high at 1.0100, up 7.18%. The company’s stock has a 5-day price change of 9.19% and 18.30% over the past three months. AMRN shares are trading 11.60% year to date (YTD), with the 12-month market performance down to -32.58% lower. It has a 12-month low price of $0.65 and touched a high of $2.23 over the same period. AMRN has an average intraday trading volume of 1.92 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 12.82%, 22.51%, and -8.58% respectively.
Institutional ownership of Amarin Corp ADR (NASDAQ: AMRN) shares accounts for 28.22% of the company’s 408.55M shares outstanding. Mutual fund holders own 27.93%, while other institutional holders and individual stakeholders account for 3.47% and 1.68% respectively.
It has a market capitalization of $396.66M and a beta (3y monthly) value of 2.04. The earnings-per-share (ttm) stands at -$0.13. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.50% over the week and 7.28% over the month.
Analysts forecast that Amarin Corp ADR (AMRN) will achieve an EPS of -$0.03 for the current quarter, -$0.03 for the next quarter and -$0.16 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.05 while analysts give the company a high EPS estimate of -$0.03. Comparatively, EPS for the current quarter was $0 a year ago. Earnings per share for the fiscal year are expected to increase by 36.03%, and 4.51% over the next financial year. EPS should grow at an annualized rate of 38.90% over the next five years, compared to -0.85% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate Amarin Corp ADR (AMRN) as a “Hold” at a consensus score of 3.40. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 2 of the 5 advise that investors “hold,” and 2 rated it as a “Sell.”
