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

StockNews.com cut shares of Amarin (NASDAQ:AMRN) from a hold rating to a sell rating in a research note released on Tuesday.

Amarin Price Performance

AMRN opened at $0.55 on Tuesday. Amarin has a 1 year low of $0.43 and a 1 year high of $1.34. The company has a market capitalization of $226.28 million, a price-to-earnings ratio of -6.12 and a beta of 1.83. The firm’s fifty day moving average price is $0.55 and its two-hundred day moving average price is $0.56.

Institutional Investors Weigh In On Amarin

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMRN. Waterfront Wealth Inc. grew its holdings in shares of 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 in the last quarter. BNP Paribas Financial Markets lifted its holdings in Amarin by 3.0% during the fourth quarter. BNP Paribas Financial Markets now owns 1,340,920 shares of the biopharmaceutical company’s stock worth $650,000 after acquiring an additional 39,452 shares during the period. Quinn Opportunity Partners LLC boosted its position in Amarin by 85.2% in the fourth quarter. Quinn Opportunity Partners LLC now owns 1,106,539 shares of the biopharmaceutical company’s stock worth $537,000 after purchasing an additional 508,989 shares during the last quarter. AXA S.A. bought a new position in Amarin in the 4th quarter valued at $480,000. Finally, LCM Capital Management Inc increased its position in shares of Amarin by 3.1% during the 4th quarter. LCM Capital Management Inc now owns 838,259 shares of the biopharmaceutical company’s stock valued at $407,000 after purchasing an additional 25,100 shares during the last quarter. Hedge funds and other institutional investors own 22.25% of the company’s stock.

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.