Amarin (NASDAQ:AMRN) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of Amarin (NASDAQ:AMRN) in a research report released on Friday morning. 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 stock has a market cap of $188.91 million, a price-to-earnings ratio of -5.11 and a beta of 1.83. The firm’s 50 day moving average price is $0.53 and its 200 day moving average price is $0.62.

Amarin (NASDAQ:AMRN) last issued its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The firm had revenue of $42.30 million for the quarter, compared to analyst estimates of $43.82 million. Amarin had a negative return on equity of 7.22% and a negative net margin of 16.33%. During the same quarter in the previous year, the firm posted ($0.05) EPS. On average, equities analysts anticipate that Amarin will post -0.14 EPS for the current year.

Institutional Trading of Amarin

Institutional investors and hedge funds have recently made changes to their positions in the company. Algert Global LLC purchased a new position in shares of Amarin during the second quarter worth approximately $34,000. China Universal Asset Management Co. Ltd. grew its position 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 worth $48,000 after purchasing an additional 29,992 shares during the last quarter. Kornitzer Capital Management Inc. KS increased its stake in Amarin by 80.7% in the third quarter. Kornitzer Capital Management Inc. KS now owns 95,600 shares of the biopharmaceutical company’s stock valued at $60,000 after purchasing an additional 42,700 shares during the period. 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 valued at $592,000 after buying an additional 334,969 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Amarin by 8.8% during the third quarter. BNP Paribas Financial Markets now owns 1,301,468 shares of the biopharmaceutical company’s stock worth $816,000 after buying an additional 104,939 shares during the period. 22.25% of the stock is owned by hedge funds and other 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.