Amarin (NASDAQ:AMRN) Receives Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Amarin (NASDAQ:AMRN) in a report issued on Tuesday morning, Benzinga reports.

Separately, StockNews.com upgraded Amarin from a hold rating to a buy rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $1.08.

Amarin Stock Down 3.7 %

NASDAQ AMRN opened at $0.73 on Tuesday. The company has a market cap of $299.83 million, a price-to-earnings ratio of -6.08 and a beta of 1.99. Amarin has a 52 week low of $0.63 and a 52 week high of $1.49. The business has a 50 day moving average price of $0.86 and a 200-day moving average price of $0.96.

Amarin (NASDAQ:AMRN) last released its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.02. The firm had revenue of $56.52 million during the quarter, compared to the consensus estimate of $51.34 million. Amarin had a negative return on equity of 9.48% and a negative net margin of 18.96%. During the same quarter in the previous year, the company posted ($0.04) earnings per share. On average, equities research analysts anticipate that Amarin will post -0.18 earnings per share for the current year.

Institutional Investors Weigh In On Amarin

Several institutional investors have recently bought and sold shares of the stock. Significant Wealth Partners LLC grew its holdings in Amarin by 128.7% during the first quarter. Significant Wealth Partners LLC now owns 34,582 shares of the biopharmaceutical company’s stock worth $31,000 after buying an additional 19,461 shares in the last quarter. LCM Capital Management Inc grew its stake in Amarin by 9.2% in the 1st quarter. LCM Capital Management Inc now owns 808,159 shares of the biopharmaceutical company’s stock valued at $720,000 after purchasing an additional 68,000 shares during the period. GSA Capital Partners LLP grew its stake in Amarin by 74.4% in the 1st quarter. GSA Capital Partners LLP now owns 1,482,540 shares of the biopharmaceutical company’s stock valued at $1,321,000 after purchasing an additional 632,497 shares during the period. BNP Paribas Financial Markets grew its stake in Amarin by 104.8% in the 1st quarter. BNP Paribas Financial Markets now owns 932,173 shares of the biopharmaceutical company’s stock valued at $830,000 after purchasing an additional 476,996 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its stake in Amarin by 66.3% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 74,178 shares of the biopharmaceutical company’s stock valued at $66,000 after purchasing an additional 29,579 shares during the period. Institutional investors own 22.25% of the company’s stock.

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.