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

Equities researchers at StockNews.com began coverage on shares of Amarin (NASDAQ:AMRN) in a research report issued on Monday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

Amarin Stock Down 5.8 %

Shares of NASDAQ:AMRN opened at $0.44 on Monday. The company has a market cap of $180.78 million, a PE ratio of -4.89 and a beta of 1.82. Amarin has a fifty-two week low of $0.35 and a fifty-two week high of $1.11. The firm has a 50-day simple moving average of $0.53 and a 200 day simple moving average of $0.54.

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 market closes on Thursday, April 10th.

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

Institutional Trading of Amarin

Large investors have recently modified their holdings of the company. Arkfeld Wealth Strategies L.L.C. boosted its stake in Amarin by 52.6% during the 4th quarter. Arkfeld Wealth Strategies L.L.C. now owns 58,000 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 20,000 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Amarin during the fourth quarter valued at approximately $36,000. Generation Capital Management LLC acquired a new position in Amarin during the fourth quarter worth about $50,000. Stonepine Capital Management LLC bought a new stake in shares of Amarin in the 4th quarter worth approximately $55,000. Finally, New York State Common Retirement Fund bought a new stake in shares of Amarin during the 4th quarter worth $68,000. Institutional investors and hedge funds own 22.25% of the company’s stock.

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.