Amarin (NASDAQ:AMRN) Now Covered by StockNews.com

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

Amarin Stock Performance

NASDAQ:AMRN opened at $0.43 on Tuesday. The company has a market cap of $176.51 million, a PE ratio of -4.78 and a beta of 1.38. The stock has a 50-day simple moving average of $0.51 and a 200 day simple moving average of $0.53. Amarin has a 52-week low of $0.35 and a 52-week high of $1.11.

Amarin shares are set to reverse split on the morning of 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 announced its quarterly earnings data 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. On average, research analysts predict that Amarin will post -0.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Amarin

A number of institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its position in shares of Amarin by 8.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,301,468 shares of the biopharmaceutical company’s stock valued at $816,000 after acquiring an additional 104,939 shares during the period. Arkfeld Wealth Strategies L.L.C. lifted its stake in Amarin by 52.6% in 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 last quarter. LCM Capital Management Inc grew its holdings in Amarin by 3.1% during the fourth quarter. LCM Capital Management Inc now owns 838,259 shares of the biopharmaceutical company’s stock worth $407,000 after purchasing an additional 25,100 shares during the period. New York State Common Retirement Fund acquired a new position in Amarin during the fourth quarter worth approximately $68,000. Finally, Waterfront Wealth Inc. raised its stake in Amarin by 181.4% in the fourth quarter. Waterfront Wealth Inc. now owns 2,481,766 shares of the biopharmaceutical company’s stock valued at $1,204,000 after buying an additional 1,599,956 shares during the period. 22.25% of the stock is currently owned by institutional investors and hedge funds.

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.