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

StockNews.com cut shares of Amarin (NASDAQ:AMRN) from a buy rating to a hold rating in a research note published on Thursday.

Separately, Cantor Fitzgerald restated an overweight rating on shares of Amarin in a report on Tuesday, June 18th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Hold and an average price target of $1.08.

Amarin Trading Down 2.6 %

Shares of NASDAQ:AMRN opened at $0.69 on Thursday. Amarin has a 1 year low of $0.63 and a 1 year high of $1.49. The business has a fifty day simple moving average of $0.81 and a 200 day simple moving average of $0.95. The firm has a market cap of $281.88 million, a price-to-earnings ratio of -5.72 and a beta of 1.95.

Amarin (NASDAQ:AMRN) last announced its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.02. Amarin had a negative return on equity of 9.48% and a negative net margin of 18.96%. The business had revenue of $56.52 million during the quarter, compared to analyst estimates of $51.34 million. During the same period last year, the company earned ($0.04) earnings per share. On average, sell-side analysts forecast that Amarin will post -0.18 EPS for the current year.

Hedge Funds Weigh In On Amarin

A number of institutional investors have recently made changes to their positions in AMRN. GSA Capital Partners LLP increased its stake in shares of Amarin by 74.4% in the first quarter. GSA Capital Partners LLP now owns 1,482,540 shares of the biopharmaceutical company’s stock worth $1,321,000 after purchasing an additional 632,497 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Amarin by 104.8% in the first quarter. BNP Paribas Financial Markets now owns 932,173 shares of the biopharmaceutical company’s stock worth $830,000 after purchasing an additional 476,996 shares during the period. Simplicity Wealth LLC bought a new position in shares of Amarin in the first quarter worth about $418,000. Hayek Kallen Investment Management increased its stake in shares of Amarin by 63.3% in the fourth quarter. Hayek Kallen Investment Management now owns 1,016,760 shares of the biopharmaceutical company’s stock worth $885,000 after purchasing an additional 394,117 shares during the period. Finally, Gilliland Jeter Wealth Management LLC bought a new position in shares of Amarin in the fourth quarter worth about $64,000. 22.25% of the stock is currently 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.