Stock Update: Amarin Corporation plc (ADR) (NASDAQ:AMRN)

[Market Wired] Amarin Corporation plc (ADR) (NASDAQ:AMRN) a biopharmaceutical company focused on the commercialization and development of therapeutics to improve cardiovascular health, announced that its continued commitment to completing the ongoing REDUCE-IT (Reduction of Cardiovascular Events with EPA - Intervention Trial) cardiovascular outcomes study. This multinational, prospective, randomized, double-blind, placebo-controlled study is the first prospective cardiovascular outcomes study of any drug in a population of patients who, despite stable statin therapy, have elevated triglyceride levels.Stock PerformanceTaking a look at the company’s recent performance, Amarin Corporation plc (ADR) (AMRN) reported secon quarter earnings for fiscal 2014 on July 8th. The company reported actual earnings per share of $-.14 against the consensus Street estimate of $-.15. Amarin posted revenue of $12.6 million against estimates of $12.8 million. Amarin is currently valued at $170.41 million and closed the last trading session at $0.99. The stock has a 50-day moving average of $1.69 and a 200-day moving average of $1.63.

Is this a Buying Opportunity?There are currently thirteen analysts that we track that cover the stock. Of those thirteen, one has a Buy rating, eleven have a hold rating and one has a Sell rating. On a consensus basis this yields a score of 2.00 and a Hold. The combined price objective of these covering analysts is $3.59, which represents a 220.15% difference to the last closing price. The most recent analyst activity consisted of Jefferies Group reiterating their Reduce stance on the company. On the date of the report, the stock closed at $1.37.Another research firm weighing in recently was MKM Partners who also reiterated their rating on the stock. On May 12th MKM Partners decreased their price target on the stock from $2 to $1.5, or a 38% upside to the current price. On the day of the report, AMRN shares closed at $1.49.Company Profile Amarin Corporation plc (NASDAQ:AMRN), a biopharmaceutical company, focuses on the development and commercialization therapeutic products for the treatment for cardiovascular diseases in the United States. It develops products in the areas of lipid science and therapeutic benefits of polyunsaturated fatty acids. The company markets Vascepa, a prescription-only omega-3 fatty acid capsule, used as an adjunct to diet to reduce triglyceride levels in adult patients with severe hypertriglyceridemia. It is also developing Vascepa for the treatment of patients with high triglyceride levels who are also on statin therapy for elevated low-density lipoprotein cholesterol levels. The company was formerly known as Ethical Holdings plc. Amarin Corporation plc was founded in 1989 and is based in Dublin, Ireland.