Amarin (NASDAQ:AMRN) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of Amarin (NASDAQ:AMRN) in a research report report published on Sunday morning. The firm issued a sell rating on the biopharmaceutical company’s stock.

Amarin Stock Performance

AMRN opened at $0.46 on Friday. The business has a 50 day moving average price of $0.54 and a 200 day moving average price of $0.54. Amarin has a twelve month low of $0.35 and a twelve month high of $1.11. The firm has a market cap of $187.72 million, a P/E ratio of -5.08 and a beta of 1.82.

Shares of Amarin are going to reverse split before the market opens on Friday, April 11th. The 1-20 reverse split was announced on Wednesday, March 12th. The number of shares owned by shareholders will be adjusted after the closing bell on Thursday, April 10th.

Amarin (NASDAQ:AMRN) last posted its earnings results on Wednesday, March 12th. The biopharmaceutical company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.06). Amarin had a negative return on equity of 7.22% and a negative net margin of 16.33%. The company had revenue of $62.31 million during the quarter, compared to analyst estimates of $32.37 million. As a group, analysts anticipate that Amarin will post -0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AMRN. Waterfront Wealth Inc. lifted its holdings in shares of Amarin by 181.4% during the fourth quarter. Waterfront Wealth Inc. now owns 2,481,766 shares of the biopharmaceutical company’s stock worth $1,204,000 after buying an additional 1,599,956 shares during the last quarter. AXA S.A. acquired a new position in shares of Amarin during the fourth quarter worth approximately $480,000. Raymond James Financial Inc. acquired a new position in shares of Amarin during the fourth quarter worth approximately $343,000. Quinn Opportunity Partners LLC lifted its holdings in shares of Amarin by 85.2% during the fourth quarter. Quinn Opportunity Partners LLC now owns 1,106,539 shares of the biopharmaceutical company’s stock worth $537,000 after buying an additional 508,989 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new position in shares of Amarin in the fourth quarter valued at $171,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

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.