In a report released today, Carl Byrnes from Northland Securities maintained a Buy rating on Amarin (AMRN), with a price target of $15.00. The company’s shares closed last Tuesday at $7.02, close to its 52-week low of $3.95.
According to TipRanks.com, Byrnes has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -10.8% and a 34.7% success rate. Byrnes covers the Healthcare sector, focusing on stocks such as Adamas Pharmaceuticals, Opiant Pharmaceuticals, and Aridis Pharmaceuticals.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Amarin with a $16.29 average price target, which is a 123.5% upside from current levels. In a report issued on May 14, H.C. Wainwright also reiterated a Buy rating on the stock with a $51.00 price target.
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Based on Amarin’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $155 million and GAAP net loss of $20.55 million. In comparison, last year the company earned revenue of $73.28 million and had a GAAP net loss of $24.43 million.
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Amarin Corp. Plc is a biopharmaceutical company, which focuses on the commercialization and development of therapeutics for cardiovascular health. Its product development program leverages its experience in lipid science and the potential therapeutic benefits of polyunsaturated fatty acids. 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.
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