Why is Amarin's stock falling?
The good news is that Amarin's stock didn't fall in response to a company-specific event. Rather, the biotech's shares have simply followed the broader pharmaceutical space downward this week. Underscoring this point, the bellwether SPDR S&P Biotech ETF has dropped by an unsightly 14.9% over the prior four trading sessions.
Did Amarin's stock follow the biotech space down in November?
Shares of the cardiovascular disease specialist Amarin (NASDAQ: AMRN) lost approximately a quarter of their value during the month of November, according to data from S&P Global Market Intelligence. Rather, Amarin's stock appears to have simply followed the broader biotech space downward last month.
What did Amarin Corporation plc (AMRN) report?
Amarin Corporation plc (NASDAQ: AMRN) reported new data for Vascepa/Vazkepa (icosapent ethyl) at the American Heart Association (AHA) Scientific Sessions.
Why is Sarissa's aggressive buying of Amarin's stock noteworthy?
Why is Sarissa's aggressive buying of Amarin's stock noteworthy? Sarissa is headed up by the noted activist investor Alex Denner, who has a long history of getting involved with underperforming biopharmas and subsequently leading them to the negotiating table.
Will Amarin stock go back up?
Amarin Corporation PLC (NASDAQ:AMRN) The 7 analysts offering 12-month price forecasts for Amarin Corporation PLC have a median target of 3.00, with a high estimate of 9.00 and a low estimate of 1.50. The median estimate represents a +65.75% increase from the last price of 1.81.
Should I sell my Amarin stock?
The consensus among Wall Street research analysts is that investors should "hold" Amarin stock. A hold rating indicates that analysts believe investors should maintain any existing positions they have in AMRN, but not buy additional shares or sell existing shares.
Why is Amarin down today?
Amarin down 23% following earnings misses and suspending revenue guidance. Shares of Amarin Corp. (NASDAQ:AMRN) are down 23% in premarket trading after reporting Q1 2022 results that missed on the top and bottom lines and continuing to suspend its 2022 revenue guidance.
Why is Amarin stock so low?
The stock is sliding today because first-quarter earnings results suggest the company's commercialization strategy isn't working. First-quarter revenue fell 34% year over year to $94 million, which was $33 million less than Wall Street was expecting. The company also missed expectations on the bottom line.
Will Amarin be acquired?
US firm Valeant Pharmaceuticals International (formerly known as ICN Pharmaceuticals) has agreed to acquire UK-headquartered Amarin Corp's US unit and most of Amarin Pharmaceuticals Inc's US products for a consideration of $38 million.
Is Amarin a good company?
Amarin has an overall rating of 3.6 out of 5, based on over 99 reviews left anonymously by employees. 50% of employees would recommend working at Amarin to a friend and 24% have a positive outlook for the business. This rating has decreased by -13% over the last 12 months.
Should I invest in Amarin?
On average, Wall Street analysts predict that AMARIN's share price could reach $3.00 by May 6, 2023. The average AMARIN stock price prediction forecasts a potential upside of 82.93% from the current AMRN share price of $1.64.
Is Amarin publicly traded?
Yes, Amarin Corporation plc is publicly traded and listed as AMRN on the NASDAQ.
Is Amarin Corporation stock a Buy, Sell or Hold?
Amarin Corporation stock has received a consensus rating of buy. The average rating score is and is based on 6 buy ratings, 2 hold ratings, and 1 s...
What was the 52-week low for Amarin Corporation stock?
The low in the last 52 weeks of Amarin Corporation stock was 1.11. According to the current price, Amarin Corporation is 127.93% away from the 52-w...
What was the 52-week high for Amarin Corporation stock?
The high in the last 52 weeks of Amarin Corporation stock was 5.97. According to the current price, Amarin Corporation is 23.81% away from the 52-w...
What are analysts forecasts for Amarin Corporation stock?
The 9 analysts offering price forecasts for Amarin Corporation have a median target of 10.33, with a high estimate of 21.00 and a low estimate of 3...
How many articles has The Fool written on Amarin?
When will AMRN earnings call end?
The Fool has written over 500 articles on Amarin.
What is Amarin Corporation?
AMRN earnings call for the period ending June 30, 2021.
Where is Amarin Corporation located?
Amarin Corporation plc, a pharmaceutical company, engages in the development and commercialization of therapeutics for the treatment of cardiovascular diseases in the United States. Its lead product is VASCEPA, a prescription-only omega-3 fatty acid product, used as an adjunct to diet for reducing triglyceride levels in adult patients ...
What happened
Amarin Corporation plc was incorporated in 1989 and is headquartered in Dublin, Ireland. More...
So what
Amarin (NASDAQ: AMRN), a small-cap cardiovascular care company, saw its shares dip by as much as 15% during the first four days of trading this week, according to data provided by S&P Global Market Intelligence.
Now what
One positive development for shareholders of this beaten-down pharma stock is the news that the activist investing firm, Sarissa Capital Management, has apparently been gobbling up shares at a breakneck pace this year. As a result of these recent transactions, Sarissa is now Amarin's largest shareholder.
The Motley Fool
Amarin, for its part, definitely qualifies as an underperforming biopharma. Thanks to COVID-19 and generic competition for its cardiovascular drug Vascepa in the U.S., Amarin's stock is presently trading at less than three times forward-looking sales.
What happened
Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community.
So what
Shares of biotech Amarin ( AMRN -1.19% ) shot more than 3% higher on Tuesday. That was on the reveal that an activist investor has taken an equity stake in the business.
Now what
In a regulatory filing submitted after market hours on Monday, hedge fund Sarissa Capital Management revealed that as of Sept. 30, it held an 8.5 million share stake in Amarin. That represents roughly 2.1% of the biotech's current outstanding share count.
Premium Investing Services
At this point, Sarissa Capital Management's strategy behind the Amarin investment is hard to gauge. The biotech is certainly a juicy target -- its share price has generally headed south since the company lost a patent challenge to its cardiovascular drug, Vascepa, in 2020.
