Amarin (NASDAQ:AMRN) Downgraded by StockNews.com to “Sell”

Amarin (NASDAQ:AMRN) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Amarin Stock Performance

NASDAQ:AMRN opened at $0.41 on Friday. The stock has a market cap of $169.94 million, a price-to-earnings ratio of -4.60 and a beta of 1.82. The business’s 50-day simple moving average is $0.55 and its 200 day simple moving average is $0.55. Amarin has a one year low of $0.35 and a one year high of $1.11.

Shares of Amarin are scheduled 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 released its earnings results on Wednesday, March 12th. The biopharmaceutical company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.06). The business had revenue of $62.31 million for the quarter, compared to analysts’ expectations of $32.37 million. Amarin had a negative net margin of 16.33% and a negative return on equity of 7.22%. On average, equities research analysts predict that Amarin will post -0.15 EPS for the current year.

Institutional Investors Weigh In On Amarin

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