Amarin (NASDAQ:AMRN) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Amarin (NASDAQ:AMRN) from a sell rating to a hold rating in a report issued on Monday.

Amarin Stock Performance

AMRN opened at $0.51 on Monday. Amarin has a 1 year low of $0.43 and a 1 year high of $1.37. The company’s 50 day simple moving average is $0.51 and its 200 day simple moving average is $0.59. The stock has a market capitalization of $211.37 million, a PE ratio of -5.72 and a beta of 1.82.

Amarin (NASDAQ:AMRN) last announced its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The company 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 quarter last year, the business earned ($0.05) EPS. As a group, sell-side analysts expect that Amarin will post -0.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Amarin

Several hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets raised its holdings in Amarin by 8.8% in the third quarter. BNP Paribas Financial Markets now owns 1,301,468 shares of the biopharmaceutical company’s stock valued at $816,000 after buying an additional 104,939 shares during the period. Algert Global LLC purchased a new position in shares of Amarin in the 2nd quarter valued at $34,000. Kornitzer Capital Management Inc. KS lifted its holdings in shares of Amarin by 80.7% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 95,600 shares of the biopharmaceutical company’s stock valued at $60,000 after acquiring an additional 42,700 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in shares of 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 acquiring an additional 29,992 shares in the last quarter. 22.25% of the stock is 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.