Amarin (NASDAQ:AMRN) Sets New 52-Week Low – Here’s What Happened

Amarin Co. plc (NASDAQ:AMRN)’s share price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $0.44 and last traded at $9.11, with a volume of 1319852 shares changing hands. The stock had previously closed at $0.46.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Amarin in a report on Tuesday, April 8th. They set a “sell” rating for the company.

Amarin Stock Up 3.0 %

The firm has a market capitalization of $3.82 billion, a price-to-earnings ratio of -103.33 and a beta of 1.38. The company’s fifty day moving average is $9.93 and its two-hundred day moving average is $10.53.

Amarin (NASDAQ:AMRN) last posted its quarterly earnings results on Wednesday, March 12th. The biopharmaceutical company reported ($2.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.20) by ($1.20). 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 analyst estimates of $32.37 million. On average, equities research analysts expect that Amarin Co. plc will post -0.15 EPS for the current year.

Institutional Trading of Amarin

A number of institutional investors and hedge funds have recently modified their holdings of the stock. New York State Common Retirement Fund bought a new stake in shares of Amarin in the 4th quarter valued at $68,000. Waterfront Wealth Inc. grew 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 acquiring an additional 1,599,956 shares during the period. Arkfeld Wealth Strategies L.L.C. increased its holdings in shares of 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 acquiring an additional 20,000 shares in the last quarter. LCM Capital Management Inc raised its position in shares of 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. Finally, Stonepine Capital Management LLC acquired a new stake in shares of Amarin during the fourth quarter worth about $55,000. 22.25% of the stock is owned by institutional investors.

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.