Are You Looking To Buy Amarin Corporation plc (AMRN)? First, Read This


Amarin Corporation plc (NASDAQ:AMRN) finished Wednesday with a subtraction of -$0.05 to close at $1.10, a downside of -4.35 percent. An average of 2,973,600 shares of common stock have been traded in the last five days. There was a fall of -$0.1200 in the past week, and it reached a new high 3 times over the past 12 months. The last 20 days have seen an average of 3,817,860 shares traded, while the 50-day average volume stands at 3,504,402.

AMRN stock has decreased by -14.06% in the last month. The company shares reached their 1-month lowest point of $1.0900 on 09/01/22. With the stock rallying to its 52-week high on 02/10/22, shares of the company touched a low of $1.09 and a high of $5.52 in 52 weeks. It has reached a new high 5 times so far this year and lost -67.36% or -$2.2700 in price. In spite of this, the price is down -80.07% from the 52-week high.

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Valuation Metrics

Amarin Corporation plc (AMRN) stock’s beta is 1.87. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.93, the price-to-book (PB) ratio at 0.75.

Financial Health

The quick ratio of Amarin Corporation plc for the three months ended June 29 was 1.40, and the current ratio was 2.00, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.00 for the quarter ending June 29. Its gross profit as reported stood at $461.86 million compared to revenue of $583.19 million.

Earnings Surprise

For the three-month period that ended June 29, Amarin Corporation plc had $85.23 million in cash. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$69.96 million in the quarter, while revenues of -$31.56 million were grew 111.16%. The analyst consensus anticipated Amarin Corporation plc’s latest quarter earnings to come in at -$0.06 per share, but it turned out to be -$0.18, a -200.00% surprise. For the quarter, EBITDA amounted to -$62.42 million. Shareholders own equity worth $403.21 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Amarin Corporation plc (AMRN) price momentum. RSI 9-day as of the close on 21 September was 28.00%, suggesting the stock is oversold, with historical volatility in this time frame at 50.02%.

As of today, AMRN’s price is $1.1860 -9.84% or -$0.1200 from its 5-day moving average. AMRN is currently trading -18.52% lower than its 20-day SMA and -60.43% lower than its 100-day SMA. However, the stock’s current price level is -21.43% below the SMA50 and -69.19% below the SMA200.

The stochastic %K and %D were 17.71% and 31.25%, respectively, and the average true range (ATR) was 0.0909. With the 14-day stochastic at 3.12% and the average true range at 0.0980, the RSI (14) stands at 33.59%. The stock has reached -0.0989 on the 9-day MACD Oscillator while the 14-day reading was at -0.1062.

Analyst Ratings

JP Morgan downgraded Amarin Corporation plc (NASDAQ: AMRN) to a an Underweight rating in its most recent analyst report. Previously, the stock was rated as a Neutral. The consensus rating for Amarin Corporation plc (AMRN) among analysts is Hold. According to current brokerage recommendations, 2 brokerage firms advise that investors sell AMRN, while 4 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 2 others rate it as a “buy”.

What is AMRN’s price target for the next 12 months?

Analysts predict a range of price targets between $1.50 and $9.00, with a median target of $3.00. Taking a look at these predictions, the average price target given by analysts for Amarin Corporation plc (AMRN) stock is $3.57.


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