Biotech Company To Watch : Amarin Corp PLC (ADR) (NASDAQ:AMRN)
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by Terry Carlson
Amarin Corp PLC (ADR) (NASDAQ:AMRN) (TREND ANALYSIS) to present new in vitro eicosapentaenoic acid study data. Amarin announced the presentation of findings from a new in vitro study at the National Lipid Association Scientific Sessions being held June 11-14 in Chicago. The study of the inhibitory effect of eicosapentaenoic acid on the formation of cholesterol crystalline domains in model biological membranes subjected to high cholesterol levels indicated a level of reduction with EPA that was not reproduced with other triglyceride-lowering agents tested. “This study was conducted in vitro using model biological membranes under conditions of hypercholesterolemia. The purpose of the study was to examine whether EPA, under atherosclerotic-like conditions, can reduce the formation of cholesterol crystalline domains. Our research team found that EPA reduced cholesterol crystalline domain levels in cholesterol-enriched model membranes by 65% as compared to vehicle-treated controls,” commented Preston Mason, Ph.D., of Brigham and Women’s Hospital and the study’s lead investigator. Additional studies are needed to determine if the effects of EPA shown in this study would have clinically meaningful benefit in the human body, the company noted. :theflyonthewall.com
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Amarin Corp PLC (ADR) (NASDAQ:AMRN) stock is currently trading 28.23% below its 52-week-high, 206.41% above its 52-week-low. The 1-year stock price history is in the range of $0.78 – $3.33. AMRN stock price has outperformed the Nasdaq by 137.8%. The Biotechnology company is currently valued at $0.42 billion and its share price closed the last trading session at $2.39. The stock has a 50-day moving average of $2.1 and a 200-day moving average of $1.69.
Amarin Corp PLC (ADR) (AMRN) current short interest stands at 25.24 million shares. It has remained stable from the same period of last month. Around 18% of the company’s shares, which are float, are short sold. With a 10-days average volume of 2.05 million shares, the number of days required to cover the short positions stand at 12.3 days.
AMRN reported last quarter earnings on May 08. The Biotechnology company announced earnings per share of $-0.18 against a consensus Street estimate of $-0.11, missing estimate by $0.07. This corresponds to an increase of $0.1 compared to the same quarter of the previous fiscal year.
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There are currently four analysts that cover Amarin Corp PLC (ADR) stock. Of those four, three have a Buy rating, one has a Hold rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $6.5.
A recent analyst activity consisted of HC Wainwright upgrading their rating to Buy on March 12. HC Wainwright increased their price target on AMRN from $2.5 to $10. This corresponds to a 318.41% upside from the last closing price. On the date of report, the stock closed at $2.38.
SunTrust Robinson Humphrey upgraded their Neutral rating to Buy on February 18. On the date of report, the stock closed at $1.31.
Amarin Corporation PLC develops, manufactures, and distributes biopharmaceutical therapeutics. The Company markets its products used in the treatment of cardiovascular diseases to healthcare providers, clinics, researchers, and facilities throughout the world.