Gilliland Jeter Wealth Management LLC Makes New Investment in Amarin Co. plc (NASDAQ:AMRN)

Gilliland Jeter Wealth Management LLC purchased a new position in shares of Amarin Co. plc (NASDAQ:AMRN) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 73,769 shares of the biopharmaceutical company’s stock, valued at approximately $64,000.

Other large investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its stake in Amarin by 16.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 122,498 shares of the biopharmaceutical company’s stock valued at $113,000 after purchasing an additional 17,613 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its stake in Amarin by 18.9% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 129,200 shares of the biopharmaceutical company’s stock valued at $119,000 after purchasing an additional 20,500 shares in the last quarter. SVB Wealth LLC grew its stake in Amarin by 100.0% during the 4th quarter. SVB Wealth LLC now owns 60,000 shares of the biopharmaceutical company’s stock valued at $52,000 after purchasing an additional 30,000 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in Amarin by 351.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 44,599 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 34,725 shares in the last quarter. Finally, Axxcess Wealth Management LLC grew its stake in Amarin by 4.5% during the 3rd quarter. Axxcess Wealth Management LLC now owns 1,274,283 shares of the biopharmaceutical company’s stock valued at $1,172,000 after purchasing an additional 54,955 shares in the last quarter. Institutional investors and hedge funds own 22.25% of the company’s stock.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald restated an “overweight” rating on shares of Amarin in a research note on Friday, January 12th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $1.08.

Amarin Stock Up 1.7 %

NASDAQ:AMRN traded up $0.01 during trading hours on Friday, reaching $0.87. 490,768 shares of the stock were exchanged, compared to its average volume of 1,207,184. The firm has a 50 day simple moving average of $0.98 and a 200-day simple moving average of $0.93. Amarin Co. plc has a 52 week low of $0.65 and a 52 week high of $1.49. The stock has a market capitalization of $359.30 million, a P/E ratio of -6.25 and a beta of 1.98.

Amarin (NASDAQ:AMRN) last released its earnings results on Thursday, February 29th. The biopharmaceutical company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04. Amarin had a negative return on equity of 10.47% and a negative net margin of 19.26%. The company had revenue of $74.71 million for the quarter, compared to the consensus estimate of $72.46 million. As a group, analysts expect that Amarin Co. plc will post -0.14 earnings per share for the current year.

About Amarin

Amarin Corporation plc, a pharmaceutical company, engages in the development and commercialization of therapeutics for the treatment of cardiovascular diseases in the United States, European countries, Canada, Lebanon, and the United Arab Emirates. The company offers VASCEPA, a prescription-only omega-3 fatty acid product, used as an adjunct to diet for reducing triglyceride levels in adult patients with severe hypertriglyceridemia.