Amarin Stock Scheduled to Reverse Split on Friday, April 11th (NASDAQ:AMRN)

Amarin Co. plc (NASDAQ:AMRN) shares are set to reverse split 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 Price Performance

NASDAQ AMRN opened at $0.44 on Friday. The company’s fifty day moving average is $0.53 and its two-hundred day moving average is $0.54. The firm has a market capitalization of $180.78 million, a price-to-earnings ratio of -4.89 and a beta of 1.82. Amarin has a 52-week low of $0.35 and a 52-week high of $1.11.

Amarin (NASDAQ:AMRN) last released 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 net margin of 16.33% and a negative return on equity of 7.22%. The company had revenue of $62.31 million during the quarter, compared to the consensus estimate of $32.37 million. As a group, sell-side analysts expect that Amarin will post -0.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on Amarin in a research report on Sunday, March 23rd. They issued a “sell” rating for the company.

Institutional Trading of Amarin

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Waterfront Wealth Inc. boosted its holdings in Amarin by 181.4% during the fourth quarter. Waterfront Wealth Inc. now owns 2,481,766 shares of the biopharmaceutical company’s stock valued at $1,204,000 after purchasing an additional 1,599,956 shares in the last quarter. AXA S.A. acquired a new stake in Amarin in the 4th quarter valued at $480,000. Raymond James Financial Inc. bought a new stake in Amarin in the fourth quarter valued at $343,000. Quinn Opportunity Partners LLC raised its stake in 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 acquiring an additional 508,989 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV bought a new position in shares of Amarin during the fourth quarter valued at $171,000. Institutional investors own 22.25% of the company’s stock.

Amarin Company Profile

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.