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

Amarin (NASDAQ:AMRN) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Thursday.

Amarin Price Performance

NASDAQ AMRN opened at $0.46 on Thursday. The stock has a market capitalization of $186.98 million, a PE ratio of -5.06 and a beta of 1.83. Amarin has a 12-month low of $0.45 and a 12-month high of $1.37. The company has a 50 day moving average price of $0.55 and a two-hundred day moving average price of $0.64.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Algert Global LLC bought a new stake in Amarin during the second quarter worth approximately $34,000. China Universal Asset Management Co. Ltd. boosted its holdings in shares of 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 buying an additional 29,992 shares during the period. 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 valued at $60,000 after buying an additional 42,700 shares during the last quarter. Waterfront Wealth Inc. raised its holdings in Amarin by 63.7% in the 2nd quarter. Waterfront Wealth Inc. now owns 860,613 shares of the biopharmaceutical company’s stock worth $592,000 after acquiring an additional 334,969 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in 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 acquiring an additional 104,939 shares during the last quarter. Institutional investors and hedge funds 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.