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Why Amarin Is Soaring in First Half of January

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Stock price hike

On January 11, Amarin (AMRN) closed at $18.00, which is 1.91% lower than its previous closing price. However, on January 10, 2019, the company closed at $18.35, almost 22% higher than its previous closing price of $15.03. To know more about this spike in stock prices, please refer to Why Amarin Soared Over 22% Yesterday.

Amarin has been rising on rumors about pharmaceutical giant Pfizer (PFE) being interested in acquiring the company. Investor sentiment has been further boosted by better-than-anticipated revenue guidance for fiscal 2018 and fiscal 2019, which the company announced at the 37th Annual J.P. Morgan Healthcare Conference in San Francisco. The company has projected a sturdy YoY rise of over 50% in its net revenues for fiscal 2019. On January 11, Pfizer closed at $42.88, which is 1.35% higher than its previous closing price. The company, however, closed at $42.31 on January 10, which is 2.38% lower than its previous closing price. This decline may be an outcome of investor concerns related to potential overpayment for Amarin by Pfizer.

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Share price movements

Based on its closing price on January 11, Amarin reported returns of 36.36% in the last week, 8.63% in the last month, and 3.84% in the last quarter. The company also reported returns of 496.03% in the last half year, 312.84% in the last year, and 32.26% YTD. The company has thus emerged as one of the best biotech performers of 2018 and 2019 YTD.

On the other hand, based on its closing price on January 11, Pfizer reported returns of -0.28% in the last week, -2.57% in the last month, and -3.66% in the last quarter. The company also reported returns of 14.29% in the last half year, 17.58% in the last year, and -1.76% YTD.

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