On February 28, 2023 at 10:52:12 (ET) an unusually large $69.00K block of Call contracts in Amarin Corporation plc (AMRN) was bought, with a strike price of $2.00 / share, expiring in 52 days (on April 21, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 14.07 sigmas above the mean, placing it in the percentile of all recent large trades made in AMRN options.

Analyst Price Forecast Suggests 97.98% Upside

As of February 28, 2023, the average one-year price target for Amarin Corporation plc is $3.64. The forecasts range from a low of $1.52 to a high of $9.45. The average price target represents an increase of 97.98% from its latest reported closing price of $1.84.

The projected annual revenue for Amarin Corporation plc is $333MM, a decrease of 21.26%. The projected annual EPS is -$0.14.

What is the Fund Sentiment?

There are 238 funds or institutions reporting positions in Amarin Corporation plc. This is an increase of 7 owner(s) or 3.03% in the last quarter. Average portfolio weight of all funds dedicated to AMRN is 0.08%, a decrease of 40.43%. Total shares owned by institutions decreased in the last three months by 11.37% to 124,027K shares. The put/call ratio of AMRN is 0.17, indicating a bullish outlook.

What are large shareholders doing?

Woodline Partners holds 12,791K shares representing 3.16% ownership of the company. In it’s prior filing, the firm reported owning 8,776K shares, representing an increase of 31.39%. The firm increased its portfolio allocation in AMRN by 54.90% over the last quarter.

Kynam Capital Management holds 9,642K shares representing 2.38% ownership of the company. In it’s prior filing, the firm reported owning 6,720K shares, representing an increase of 30.31%. The firm increased its portfolio allocation in AMRN by 15.95% over the last quarter.

Millennium Management holds 6,924K shares representing 1.71% ownership of the company. In it’s prior filing, the firm reported owning 1,766K shares, representing an increase of 74.50%. The firm increased its portfolio allocation in AMRN by 307.39% over the last quarter.

SCP Investment holds 6,500K shares representing 1.60% ownership of the company. No change in the last quarter.

DG Capital Management holds 5,809K shares representing 1.43% ownership of the company. No change in the last quarter.

Amarin Background Information
(This description is provided by the company.)

Amarin is a rapidly growing, innovative pharmaceutical company leading a new paradigm in cardiovascular disease management. From its scientific research foundation to its focus on clinical trials, and now its commercial expansion, it is evolving and growing. In 2009, Amarin had fewer than twenty employees. Today, with offices in Bridgewater, New Jersey in the United States, Dublin in Ireland, and Zug in Switzerland, Amarin has approximately 1,000 employees and commercial partners and suppliers around the world. It is committed to rethinking cardiovascular risk through the advancement of scientific understanding of the impact on society of significant residual risk that exists beyond traditional therapies, such as statins for cholesterol management.

This article originally appeared on Fintel

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.