StockNews.com Begins Coverage on Amarin (NASDAQ:AMRN)

StockNews.com started coverage on shares of Amarin (NASDAQ:AMRN) in a report issued on Tuesday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

Amarin Trading Down 1.5 %

AMRN stock opened at $0.49 on Tuesday. The firm has a 50 day moving average of $0.57 and a 200-day moving average of $0.67. Amarin has a 12-month low of $0.46 and a 12-month high of $1.37. The company has a market cap of $202.05 million, a price-to-earnings ratio of -5.53 and a beta of 1.92.

Amarin (NASDAQ:AMRN) last issued its quarterly earnings data on Wednesday, October 30th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). Amarin had a negative return on equity of 7.22% and a negative net margin of 16.33%. The business had revenue of $42.30 million for the quarter, compared to analysts’ expectations of $43.82 million. During the same period last year, the business earned ($0.05) earnings per share. Sell-side analysts forecast that Amarin will post -0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of AMRN. Waterfront Wealth Inc. increased its stake in shares of Amarin by 63.7% during the 2nd quarter. Waterfront Wealth Inc. now owns 860,613 shares of the biopharmaceutical company’s stock worth $592,000 after purchasing an additional 334,969 shares in the last quarter. BNP Paribas Financial Markets increased its stake in shares of Amarin by 8.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,301,468 shares of the biopharmaceutical company’s stock worth $816,000 after purchasing an additional 104,939 shares in the last quarter. Prospect Financial Services LLC purchased a new stake in Amarin in the 2nd quarter worth approximately $41,000. Algert Global LLC purchased a new stake in Amarin in the 2nd quarter worth approximately $34,000. Finally, Kornitzer Capital Management Inc. KS grew its stake in Amarin by 80.7% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 95,600 shares of the biopharmaceutical company’s stock worth $60,000 after acquiring an additional 42,700 shares during the period. 22.25% of the stock is owned by hedge funds and other institutional investors.

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.