Market Analysts see Amarin Corporation plc [AMRN] gaining to $3. Time to buy?

Amarin Corporation plc [NASDAQ: AMRN] gained 16.22% or 0.24 points to close at $1.72 with a heavy trading volume of 10236120 shares. The company report on January 10, 2023 that Sarissa Capital Submits Notice to Call a Special Meeting of Amarin Shareholders to Add Directors and Remove Chairman Per Wold-Olsen.

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Sarissa believes current board lacks any remaining credibility for representing shareholders.

Sarissa is astonished that Amarin board refuses to add shareholder representatives.

It opened the trading session at $1.58, the shares rose to $1.85 and dropped to $1.55, the range by which the price of stock traded the whole day. The daily chart for AMRN points out that the company has recorded 22.86% gains over the past six months. However, it is still -65.38% lower than its most recent low trading price.

If we look at the average trading volume of 3.07M shares, AMRN reached to a volume of 10236120 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Amarin Corporation plc [AMRN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AMRN shares is $3.57 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AMRN stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Jefferies have made an estimate for Amarin Corporation plc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 06, 2023. The new note on the price target was released on May 06, 2022, representing the official price target for Amarin Corporation plc stock. Previously, the target price had yet another drop from $10 to $3, while SVB Leerink kept a Mkt Perform rating on AMRN stock. On May 05, 2022, analysts decreased their price target for AMRN shares from 10 to 3.

The Average True Range (ATR) for Amarin Corporation plc is set at 0.11, with the Price to Sales ratio for AMRN stock in the period of the last 12 months amounting to 1.44. The Price to Book ratio for the last quarter was 1.19, with the Price to Cash per share for the same quarter was set at 0.86.

Trading performance analysis for AMRN stock

Amarin Corporation plc [AMRN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 44.54. With this latest performance, AMRN shares gained by 43.33% in over the last four-week period, additionally plugging by 22.86% over the last 6 months – not to mention a drop of -47.08% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AMRN stock in for the last two-week period is set at 77.98, with the RSI for the last a single of trading hit 85.02, and the three-weeks RSI is set at 72.26 for Amarin Corporation plc [AMRN]. The present Moving Average for the last 50 days of trading for this stock 1.2366, while it was recorded at 1.4280 for the last single week of trading, and 1.6000 for the last 200 days.

Amarin Corporation plc [AMRN]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Amarin Corporation plc [AMRN] shares currently have an operating margin of +4.15 and a Gross Margin at +78.71. Amarin Corporation plc’s Net Margin is presently recorded at +1.33.

Return on Equity for this stock inclined to 1.19, with Return on Assets sitting at 0.76.

Amarin Corporation plc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 2.40.

Amarin Corporation plc [AMRN]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AMRN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Amarin Corporation plc go to 38.90%.

An analysis of insider ownership at Amarin Corporation plc [AMRN]

There are presently around $223 million, or 32.70% of AMRN stock, in the hands of institutional investors. The top three institutional holders of AMRN stocks are: SARISSA CAPITAL MANAGEMENT LP with ownership of 23,998,000, which is approximately 0% of the company’s market cap and around 0.30% of the total institutional ownership; EVERSEPT PARTNERS, LP, holding 11,962,744 shares of the stock with an approximate value of $20.58 million in AMRN stocks shares; and WOODLINE PARTNERS LP, currently with $15.1 million in AMRN stock with ownership of nearly New of the company’s market capitalization.

Positions in Amarin Corporation plc stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 55 institutional holders increased their position in Amarin Corporation plc [NASDAQ:AMRN] by around 24,841,147 shares. Additionally, 99 investors decreased positions by around 32,749,954 shares, while 93 investors held positions by with 72,236,352 shares. The mentioned changes placed institutional holdings at 129,827,453 shares, according to the latest SEC report filing. AMRN stock had 19 new institutional investments in for a total of 17,564,259 shares, while 42 institutional investors sold positions of 5,043,114 shares during the same period.


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