Amarin Plans To Initiate Share Repurchase Program of Up to $50M
Portfolio Pulse from Benzinga Newsdesk
Amarin Corporation has announced a conditional share repurchase agreement with Cantor Fitzgerald to buy back up to $50 million of its ordinary shares in the form of American depository shares. The repurchase program is set to initiate on January 9, 2024.
January 10, 2024 | 12:14 pm
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POSITIVE IMPACT
Amarin Corporation is set to repurchase up to $50 million of its shares, which may lead to a positive sentiment among investors and could potentially increase the stock price in the short term.
Share repurchase programs often lead to an increase in a company's stock price as they can indicate management's confidence in the company's prospects and reduce the number of shares outstanding, potentially increasing earnings per share. Given the size of the buyback relative to Amarin's market capitalization, this could be seen as a significant positive move.
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IMPORTANCE 80
RELEVANCE 100