why Amarin Corporation plc [AMRN] is a Good Choice for Investors After New Price Target of $3.75

Amarin Corporation plc [NASDAQ: AMRN] traded at a high on 03/14/23, posting a 1.94 gain after which it closed the day’ session at $1.58. The company report on March 6, 2023 that Amarin Announces Board Departures.

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The departing members of the Amarin Board issued the following statement:.

The results of the trading session contributed to over 8010385 shares changing hands. Over the past one week, the price volatility of Amarin Corporation plc stands at 8.28% while the volatility over the past one month is 7.38%.

The market cap for AMRN stock reached $690.13 million, with 404.79 million shares outstanding and 381.31 million shares in the current float. Compared to the average trading volume of 4.80M shares, AMRN reached a trading volume of 8010385 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 $3.75 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 2.70. 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 0.14, with the Price to Sales ratio for AMRN stock in the period of the last 12 months amounting to 1.87. The Price to Book ratio for the last quarter was 1.07, with the Price to Cash per share for the same quarter was set at 0.71.

How has AMRN stock performed recently?

Amarin Corporation plc [AMRN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.19. With this latest performance, AMRN shares dropped by -17.71% in over the last four-week period, additionally plugging by 13.67% over the last 6 months – not to mention a drop of -46.62% 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 36.53, with the RSI for the last a single of trading hit 29.69, and the three-weeks RSI is set at 41.71 for Amarin Corporation plc [AMRN]. The present Moving Average for the last 50 days of trading for this stock 1.7966, while it was recorded at 1.6520 for the last single week of trading, and 1.4575 for the last 200 days.

Amarin Corporation plc [AMRN]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Amarin Corporation plc [AMRN] shares currently have an operating margin of -25.01 and a Gross Margin at +64.84. Amarin Corporation plc’s Net Margin is presently recorded at -28.66.

Return on Equity for this stock declined to -16.75, with Return on Assets sitting at -10.82.

Amarin Corporation plc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.80 and a Current Ratio set at 2.70.

Earnings analysis for Amarin Corporation plc [AMRN]

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%.

Insider trade positions for Amarin Corporation plc [AMRN]

There are presently around $185 million, or 32.70% of AMRN stock, in the hands of institutional investors. The top three institutional holders of AMRN stocks are: MORGAN STANLEY with ownership of 22,027,895, which is approximately 289.562% of the company’s market cap and around 0.30% of the total institutional ownership; WOODLINE PARTNERS LP, holding 12,790,559 shares of the stock with an approximate value of $20.21 million in AMRN stocks shares; and KYNAM CAPITAL MANAGEMENT, LP, currently with $15.23 million in AMRN stock with ownership of nearly 43.483% of the company’s market capitalization.

Positions in Amarin Corporation plc stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 73 institutional holders increased their position in Amarin Corporation plc [NASDAQ:AMRN] by around 45,547,562 shares. Additionally, 76 investors decreased positions by around 58,413,583 shares, while 89 investors held positions by with 12,859,190 shares. The mentioned changes placed institutional holdings at 116,820,335 shares, according to the latest SEC report filing. AMRN stock had 31 new institutional investments in for a total of 4,461,360 shares, while 24 institutional investors sold positions of 26,139,842 shares during the same period.


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