Amarin (NASDAQ:AMRN) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Amarin (NASDAQ:AMRN) in a report released on Friday. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

Amarin Stock Down 1.2 %

Shares of NASDAQ:AMRN opened at $0.46 on Friday. Amarin has a fifty-two week low of $0.43 and a fifty-two week high of $1.37. The firm’s 50-day simple moving average is $0.53 and its 200-day simple moving average is $0.62. The company has a market cap of $188.91 million, a price-to-earnings ratio of -5.11 and a beta of 1.83.

Amarin (NASDAQ:AMRN) last posted its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The business had revenue of $42.30 million during the quarter, compared to analyst estimates of $43.82 million. Amarin had a negative net margin of 16.33% and a negative return on equity of 7.22%. During the same period in the prior year, the business earned ($0.05) earnings per share. On average, research analysts forecast that Amarin will post -0.14 EPS for the current year.

Institutional Trading of Amarin

A number of institutional investors have recently bought and sold shares of the company. Algert Global LLC purchased a new position in shares of Amarin during the 2nd quarter worth approximately $34,000. China Universal Asset Management Co. Ltd. grew its holdings in Amarin by 63.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 76,959 shares of the biopharmaceutical company’s stock valued at $48,000 after buying an additional 29,992 shares during the last quarter. Kornitzer Capital Management Inc. KS increased its position in Amarin by 80.7% during the third quarter. Kornitzer Capital Management Inc. KS now owns 95,600 shares of the biopharmaceutical company’s stock worth $60,000 after buying an additional 42,700 shares in the last quarter. Waterfront Wealth Inc. raised its holdings in shares of Amarin by 63.7% in the second quarter. Waterfront Wealth Inc. now owns 860,613 shares of the biopharmaceutical company’s stock worth $592,000 after acquiring an additional 334,969 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Amarin by 8.8% in the third quarter. BNP Paribas Financial Markets now owns 1,301,468 shares of the biopharmaceutical company’s stock worth $816,000 after acquiring an additional 104,939 shares during the last quarter. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

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.